NAIROBI: The Kenyan shilling strengthened to its highest in a week on Wednesday, reversing its recent losses due to weak demand for dollars, traders said.
At 0909 GMT, commercial banks quoted the shilling at 101.30/40 per dollar, up from 101.50/70 at Tuesday's close.
"A lot of corporates (firms) hedged out their requirements when we dipped to 100.8 and are under no pressure to buy dollars at the moment," said a senior trader from a commercial bank.
Comments
Comments are closed.