NAIROBI (Xinhua) --
The Kenyan shilling went down against the U.S.
dollar on Monday as oil importers and corporates sustained
demand for the greenback.
The local unit
traded against the dollar at an average of 101.20, down from
101.10 posted last Friday.
Commercial banks and
currency traders in the east African nation quoted the shilling
at between 101.20 and 101.40 to the dollar, down from Friday’s
The Central Bank of
Kenya, however, put the shilling at a slightly stronger position
of 101.18, down from 101.07 per dollar on Friday last week.
Forex traders noted
that demand for the dollar among corporates and oil importers
seeking to meet their end-month demand was high, putting
pressure on the shilling.
Against the British
pound, the shilling strengthened slightly to end at 134.94, up
from 135.32 in the last session.
The Kenya shilling
declined by 0.6 percent against the dollar last week to close at
101.10, from the previous week’s 100.40, due to increased
end-month dollar demand by multinationals and importers.
The Central Bank has
been selling its dollar reserves to stem the shilling’s slide.