NAIROBI (Xinhua) --
The Kenyan shilling was firm against the U.S.
dollar on Thursday but was expected to fall due to rising demand
for the greenback by importers.
The shilling on
Thursday traded at an average of 100.40, the level it was quoted
by both commercial banks and the Central Bank on Wednesday.
The Central Bank of
Kenya quoted the shilling in the Thursday session at 100.39, a
slight gain from 100.40.
The East African
nation commercial banks, on the other hand, placed the currency
at 100.40 and 100.50, where it closed on Wednesday.
noted that the shilling was facing pressure from growing demand
for dollars from oil and retail importers amid slowdown in
inflows, thus, it was expected to decline in the short-term.
Against the British
Pound, the shilling strengthened to close Thursday at 142.87
from in the Wednesday session.