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Kenyan shilling strengthens due to investor inflows

NEWS
By Reuters | Nov 13th 2018 | 1 min read
By Reuters | November 13th 2018
NEWS
Commercial banks quoted the shilling at 102.35/55 per dollar, compared with 102.50/70 at Monday's close. [Photo: Courtesy]

NAIROBI- The Kenyan shilling firmed against the dollar on Tuesday due to inflows from investors interested in buying government debt, traders said.

At 0835 GMT, commercial banks quoted the shilling at 102.35/55 per dollar, compared with 102.50/70 at Monday's close.

The central bank will auction an infrastructure bond worth 50 billion shillings ($488.52 million) on Wednesday.

Last week, the Kenyan shilling was under pressure due to increased dollar demand from importers of oil and other goods making payments ahead of Christmas and New Year.

Commercial banks quoted the shilling at 101.70/90 per dollar, compared with 101.60/80 at November 1, close.

 

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