Markets

Kenyan shilling gains, helped by commercial bank dollar sales

Published April 20, 2016 Updated April 20, 2016 02:57pm

1 min

By Imad Uddin

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NAIROBI: Kenya's shilling gained on Wednesday, helped by commercial banks unwinding their dollar positions due to subdued demand.

At 0850 GMT, commercial banks quoted the shilling at 101.00/10 to the dollar, compared with Tuesday's close of 101.15/25. Traders said they forecast the shilling to trade in the 101.00 to 101.25 range against the dollar in the next few days.

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