Shilling remains resilient closing the week at Ksh 103.90
By Soko Directory Team On August 5, 2017
The Kenyan Shilling gained against five of six basket of global and regional currencies during the week. Against the US dollar, the local unit edged lower by 0.53percent , to close at 103.90.
The Shilling gained 0.76percent and 0.15percent against the British pound and Euro currencies, respectively.
On the regional front, the shilling clawed 0.04 percent and 0.19percent gains against the Tanzania Shilling and Uganda Shilling, respectively.
The previous week, the Shilling remained stable to close at Kshs 103.9, primarily due to subdued dollar demand from oil importers.
On a year to date basis, the shilling has depreciated against the dollar by 1.4 percent.