The Kenyan shilling registered a negligible surge
against the U.S. dollar on Thursday helped by inflows.
The local unit
traded against the dollar at an average of 100.45, the same
level it ended in the previous session.
The Central Bank of
Kenya, however, quoted the shilling at 100.43 to the dollar in
the Thursday trading, up from 100.45 on Wednesday.
On the other hand,
commercial banks in the East African nation put the shilling at
between 100.45 and 100.55 in the Thursday session with the
margins remaining largely unchanged.
attributed the little surge to rising dollar inflows from
offshore investors that helped offset demand from manufacturers
and oil dealer.
Analysts noted that
the shilling is expected to stabilize against the dollar boosted
by 9.1 billion dollars forex reserves and growing inflows from