(Special for CAFS) Kenyan shilling ends week higher as inflows suppress dollar demand – Xinhua

NAIROBI, July 27 (Xinhua) – The Kenyan shilling ended the week against the US dollar on Friday as a backdrop to the dollar.

The local unit traded against the dollar at 100.40, year in the last session on Thursday.

The Central Bank of Kenya quoted the local currency at 100.46 to the dollar, with the currency gaining slightly from 100.49 on Thursday.

Commercial banks, on the other hand, the shilling at between 100.30 and 100.50 from 100.40 and 100.60.

Forex traders attributed the strengthening of the shilling to increased influx of Kenyans in the diaspora amid tight liquidity in the market.

Against the British pound, the shilling pink slightly to close at 132.09 from 132.31 in the Thursday session.

The shilling is expected to come to the end of the day, but badysts the currency may remain firm.