Shilling gains against dollar ahead of Central Bank rate-setting committee meeting Wednesday

NAIROBI: The shilling strengthened further yesterday, helped again by tight local currency liquidity in the money markets, traders said. At the opening of business, commercial banks quoted the shilling at 100.95/101.15 to the dollar, from Monday's close of 101.35/45.

Traders said the shilling was also getting some support from market expectations that the Central Bank will raise its benchmark lending rate today when its Monetary Policy Committee meets.