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NAIROBI: Kenya’s shilling firmed yesterday after hard currency inflows entered the market from foreign investors fleeing Nigeria’s faltering economy, while others were chasing yields on government debt.
Commercial banks quoted the shilling at 91.10/20 to the dollar, stronger than Wednesday’s close of 91.15/25 to the dollar. “With what’s happening in Nigeria, everyone is getting scared. So they are really coming in massive chunks to invest in Kenya,” said Sheikh Mehran, head of trading at I&M Bank.
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