NAIROBI (Xinhua) --
The Kenyan shilling appreciated 0.5 percent
against the U.S. dollar in April following increased inflows
from offshore investors and horticulture.
The shilling in
April stood at an average of 100.40 from 100.80 at the end of
March, according to the data from the Central Bank of Kenya.
inflows stood at 222.2 million dollars in March and was mainly
invested at the debt market,” said Cytonn, a Nairobi-based
investment firm in a note on Monday.
The shilling has
strengthened to the current average of 100.00 against the dollar
since Kenya’s political environment stabilized after a unity
pact between President Uhuru Kenyatta and opposition leader
Last week, the
shilling gained 0.1 percent against the dollar to 100.20 from
100.30 the previous week, still on the back of increased dollar
supply from offshore investors. On a year-to-date basis, the
shilling has gained 2.9 percent against the dollar.
“The shilling should
remain stable against the dollar supported by stronger
horticulture export inflows driven by increasing production and
improving global prices and rising Diaspora remittances, which
increased by 48 percent to 210.4 million dollars in February,”
shilling eases amid high dollar demand
NAIROBI (Xinhua) --
The Kenyan shilling eased slightly against the
U.S. dollar on Monday amid rising demand for the greenback by
The shilling traded
to the dollar at an average of 100.26 on Monday, a marginal
decline from 100.25 in the Friday session.
The Central Bank of
Kenya quoted the shilling at 100.26 to the dollar, trading lower
from 100.22 in the previous session.
The East African
nation’s commercial banks, on the other hand, quoted the
shilling at between 100.25 and 100.35, with the margins
attributed the easing of the shilling to growing demand for the
dollar by manufacturers and oil importers. Against the British
Pound, the shilling edged down to close at 130.67 from 136.17 in
the previous session.
The Kenyan shilling
appreciated by 0.5 percent against the dollar in April to stand
at 100.40 from 100.80 at the end of March due to of increased
offshore investor inflows.