Kenyan shilling strengthens to 7 day high against the dollar

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.