Shilling toughens against dollar as investor activity normalises

Traders said firms were selling dollars as business resumed from a two-month lull. FILE PHOTO | NMG

The Shilling gained Thursday on the back of companies unwinding their dollar positions to make payments and investors selling hard currencies to buy local assets after a Presidential inauguration on Tuesday cleared uncertainty over the political situation in the country.

The shilling traded at 103.05/25 to the dollar on Thursday, stronger than the 103.15/35 it was at on Wednesday.

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