NAIROBI (Xinhua) --
The Kenyan shilling strengthened
slightly against the U.S. dollar on Wednesday ending a
losing streak that characterized trading for the last
traded at a stronger position of 101.29 per dollar on
Wednesday, a marginal rise from 101.30 on Tuesday.
Bank of Kenya placed the currency at 101.29 to the
dollar, a rise from the previous sessions 101.30. The
East African nation’s commercial banks quoted the
currency at between 101.30 and 101.50, a marginal rise.
traders attributed the slight rise of the shilling to
inflows from diaspora and investors at the debt and
British pound, the shilling declined to stand at 141.89
from 141.52 in the Tuesday session, according to the
Nairobi-based investment firm Cytonn, the shilling
should remain relatively stable against the dollar in
the short term, supported by rising inflows and Central
Bank’s intervention activities.