Shilling firms, central bank sell-off of dollars helps

10:36 - 22 July 2016

A teller serves a client with Kenya shilling notes at the cashier's booth of a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya

t 0648 GMT, commercial banks quoted the shilling at 101.45/55 to the dollar, compared with 101.55/65 at Wednesday's close.

The Kenyan shilling firmed on Thursday, helped by a Central Bank of Kenya (CBK) sell-off of dollars the previous day to support the local currency that was under pressure from end-month demand by importers.

At 0648 GMT, commercial banks quoted the shilling at 101.45/55 to the dollar, compared with 101.55/65 at Wednesday's close.

CBK sold an undisclosed amount of dollars in the interbank market on Wednesday to support the local currency after weakening past 102 level in intraday trading.