Kenyan central bank sells dollars to support shilling

NAIROBI: The Kenyan central bank sold dollars on Tuesday to support the shilling against increased dollar demand from the energy sector and merchandise importers as business activity resumed following lifting of COVID-19 movement restrictions, traders said.

At 0800 GMT, commercial banks quoted the shilling at 107.70/90 per dollar, compared with 106.65/85 at Monday's close.

"There is good demand from merchandisers ...we saw some central bank of Kenya intervention in the morning," said a senior trader from one commercial bank.