NAIROBI: The Kenyan shilling strengthened slightly on Wednesday helped by commercial banks shedding their long dollar positions.
At 0813 GMT, commercial banks quoted the shilling at 86.80/87.00 to the dollar, compared with Tuesday's close of 86.90/87.00.
Traders said there had been some dollar sales by tea and horticulture exporters and non-governmental organisations on Tuesday.
"Initially there was quite a bit of demand from the energy sector, but now it seems to have been met and now we are seeing some sort of a correction," said Duncan Kinuthia, head of trading at Commercial Bank of Africa.
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