NAIROBI (Xinhua) --
The Kenya shilling fell marginally against the
United States dollar on Thursday as it continued with a downward
trajectory amid rising demand for the greenback.
The shilling traded
at an average of 101.25 to the dollar, down from 101.20 in the
The Central Bank of
Kenya quoted the currency at 101.23 to the dollar, a minimal
drop from 101.22 on Wednesday.
Commercial banks, on
the other hand, placed the local currency at between 101.10 and
101.30, a slight decline from 101.05 and 101.20 in the Wednesday
Currency traders in
financial institutions noted that rising dollar demand from
retail importers, including manufacturers and oil dealers, was
putting pressure on the shilling.
Against the Sterling
Pound, the shilling surged to close at 139.80, from 140.50 in
the Wednesday session, according to the apex bank.
Analysts say the
shilling will remain steady against the dollar in the short
term, with the central bank expected to intervene with its 7.1
billion dollar forex reserves in case it faces more pressure
from international currencies.