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Kenyan shilling firms against dollar

Xinhua,April 06, 2018 Adjust font size:

NAIROBI, April 5 (Xinhua) -- The Kenyan shilling held steady against the U.S. dollar on Thursday buoyed by rise in inflows at the debt market.

The shilling exchanged with the dollar at an average of 101.05, the same level it ended in the Wednesday session.

The Central Bank of Kenya quoted the shilling at 101.06 on Thursday, a slight rise from 100.07 in the Wednesday trading.

Commercial banks in the East African nation, on the other hand, placed the shilling at between 100.95 and 101.15 for each dollar, with the currency staying firm at the level.

Currency traders attributed the stability of the local currency to high inflows from investors seeking to buy government securities at the debt market, which helped to offset demand for the greenback by retail traders and oil importers.

Against the British pound, the shilling declined further to 142.23 from 142.01 in the trading on Wednesday. Enditem

 

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