In Kenya Shilling inches up as firms convert dollars to pay tax

At 1100 GMT, banks quoted the shilling at 101.30/40 per dollar, compared with 101.45/55 at Thursday's close.

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Kenya shilling coins and notes are pictured inside a cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya play Kenya shilling coins and notes are pictured inside a cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya
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The Kenyan shilling edged up against the dollar on Friday as firms sold dollars to meet their monthly tax obligations.

At 1100 GMT, banks quoted the shilling at 101.30/40 per dollar, compared with 101.45/55 at Thursday's close.

"Corporations have to change to Kenya shillings in advance to pay those obligations," said a trader from a commercial bank, referring to the tax that falls due on the 20th of the month.

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