NAIROBI: The Kenyan shilling strengthened on Thursday as the market benefited from a rise in the supply of dollars from foreign investors into an infrastructure bond.
At 0700 GMT, commercial banks posted the shilling at 109.75/95 per dollar, up from Wednesday's closing rate of 109.90/110.10.
The government sold 81 billion shillings worth of an infrastructure bond on Wednesday, as foreign investors piled in due to the bond's tax exempt status.
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