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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenyan shilling strengthens against
dollar, stable to regional currencies   

NAIROBI (Xinhua) -- The Kenyan shilling strengthened against the U.S. dollar on Friday to end the week higher as inflows helped offset demand for the greenback from importers.

The shilling traded against the dollar at an average of 100.45, a rise from 100.60 in the Thursday session.

The Central Bank of Kenya quoted the shilling at 100.44 against to the dollar, up from 100.60 in the Thursday trading.

On the other hand, commercial banks quoted the shilling at between 100.45 and 100.65, from 100.55 and 100.65.

Currency traders attributed the surge to rising dollar inflows from horticulture which helped stem off pressure as a result of high dollar demand from energy and manufacturing sectors.

Against the British Pound, the shilling gained slightly to close at 135.79 from 136.63 in the previous session.

According to the Central Bank, this week, the Kenya shilling was stable against major international currencies. It was also relatively stable against the regional currencies.

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