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Kenyan shilling largely unchanged against dollar

Xinhua,April 10, 2018 Adjust font size:

NAIROBI, April 9 (Xinhua) -- The Kenyan shilling was largely unchanged against the U.S. dollar on Monday, as demand for the greenback fell amid tight liquidity.

The shilling was at an average of 101.00 per dollar on Monday, the level seen on Friday.

The east African nation's central bank placed the shilling at 101.00 against the U.S. dollar in Monday's trading, a negligible increase from 101.02 in the Friday session.

Commercial banks quoted the shilling at between 100.90 and 101.00 for each dollar, the same level the currency ended last week.

Forex traders noted declined demand for the dollar from retail importers amid tight liquidity in the market, indicated by the rise in the average interbank rate to 6.3 percent last week, from 5.8 percent, owing to government security principal payments for the Treasury bond tap sale.

The shilling depreciated 0.2 percent against the dollar last week to close at 101.0, from the previous week's 100.8. Enditem

 

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