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Shilling nears 100-mark ahead of Central Bank of Kenya meeting

The shilling weakened last week as dollar demand increased, sinking to a level not seen since November 2011, while expectations of dollars sales by the Central Bank of Kenya failed to materialise.

At the close of trade on Friday, commercial banks posted the shilling at Sh99.70/80 to the dollar, closer to the psychological 100-mark. The currency had closed at 99.50/60 on Thursday.

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