NAIROBI (Xinhua) --
The Kenyan shilling sustained a downward path
against the U.S. dollar on Thursday as demand for the greenback
from importers rose.
The local unit
traded against the dollar at an average of 100.60, a decline
from 100.50 in the Wednesday session.
The Central Bank of
Kenya placed the shilling at 100.60 to the dollar, a continued
drop from 100.47 in Wednesday trading.
Commercial banks in
the East African nation, quoted the shilling at between 100.55
and 100.65, a marginal decline from the previous session’s
attributed the drop to rising dollar demand from energy and
manufacturing sectors, putting pressure on the shilling.
Against the British
Pound, the shilling strengthened slightly to close at 136.63
from 135.70 on Wednesday.
Analysts noted the
shilling was under pressure from international currencies but
would get support from investors buying government securities.