Business
Currency update from Thursday's session
Traders said the shilling’s appreciation was supported by demand from offshore investors, the manufacturing and energy sectors, amid muted inflows from remittances and commodity clients.
Currency update from Thursday's session
By: Ali Twaha, Journalists @New Vision
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The dollar closed Thursday’s session at shillings 3595/3605, trading about 5 shillings stronger than the opening levels of shillings 3590/3600 against the shilling.
Traders said the shilling’s appreciation was supported by demand from offshore investors, the manufacturing and energy sectors, amid muted inflows from remittances and commodity clients.
Money market liquidity remained relatively tight according to Absa, with interbank overnight and one‑week rates averaging 10.00% and 10.51%, respectively.