Central bank of Kenya sells dollars to support shilling -traders
By Reuters | July 21st 2020
The Kenyan central bank sold dollars on Tuesday to support the shilling against increased dollar demand from the energy sector and merchandise importers as business activity resumed following lifting of COVID-19 movement restrictions, traders said.
Commercial banks quoted the shilling at 107.70/90 per dollar, compared with 106.65/85 at Monday’s close.
“There is good demand from merchandisers ...we saw some central bank of Kenya intervention in the morning,” said a senior trader from one commercial bank.
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