NAIROBI (Xinhua) --
The Kenyan shilling gained more ground against
the U.S. dollar to close the Wednesday session at a week high as
it recovered from a losing streak.
The shilling traded
at an average of 101.60 to the dollar on Wednesday, a rise from
101.70 on Tuesday.
The Central Bank of
Kenya quoted the local unit at 101.62 to the dollar, a big leap
from 101.74 on Tuesday.
On the other hand,
the East African nation’s commercial banks placed the shilling
at an even stronger position of 101.50 from between 101.55 and
attributed the gain of the shilling to declined dollar demand
from importers amid steady rise in inflows from the horticulture
Against the Sterling
Pound, the shilling similarly gained to stand at 141.47 from
142.73 at the close of Tuesday.