Kenyan shilling inches up as liquidity tightens

NAIROBI: The Kenyan shilling edged up on Thursday due to tightening liquidity in the money market, which normally drives up the cost of holding dollars , traders said.

At 0935 GMT, commercial bank quoted the shilling at 102.35/55 per dollar, compared with 102.45/65 at Wednesday's close.

The weighted average interest rate on the overnight lending market for banks rose to 4.53 percent on Wednesday from 4.39 percent the previous day.