NAIROBI, (Xinhua) -- The
Kenya shilling ended the week stronger against the U.S. dollar and some regional
currencies after strengthening on Friday.
The currency
exchanged against the dollar at an average of 103.3, a two-month high as it
continued with a rally following declined tension after Opposition chief Raila
Odinga decided to challenge the election of President Uhuru Kenyatta at the
Supreme Court.
The Central
Bank of Kenya quoted the shilling Friday at 103.39, a 0.3 percent rise against
the dollar, up from 103.70 in the previous session, as it noted the appreciation
of the local unit followed positive sentiments after the peaceful general
elections.
On the other
hand, commercial banks placed the value of the Kenyan currency at an even
stronger position of between 102.25 and 103.40 against the dollar.
Traders at
the financial institutions attributed the stronger performance of the shilling
to the positive political environment.
Against the
British Pound, the shilling strengthened trading at 133.14 from Thursday’s
133.36, a rally that mirrored renewed confidence in the country after the polls.
In the East
Africa Community region, the Kenya shilling strengthened against the Tanzania
Shilling and the Burundi Franc but weakened against the Uganda Shilling and
remained broadly stable against the Rwanda Franc.
