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Kenyan shilling firms slightly, shrugs bank receivership

Friday, April 08, 2016 — updated on December 25, 2020 - 1 min read

The shilling has appreciated 1 per cent against the dollar so far this year. PHOTO | FILE

Kenya's shilling gained slight ground on Friday, shaking off jitters from a day earlier after the central bank put one bank, Chase Bank, under receivership.

At 0943 GMT, commercial banks quoted the shilling at 101.20/30 to the dollar, compared with Thursday's close of 101.30/40.

The shilling has appreciated 1 per cent against the dollar so far this year.

"It had weakened a bit yesterday on the news for Chase Bank, then there was word that central bank intervened and sold dollars. There was really nothing t weaken it, apart from risk aversion," a senior trader at one commercial bank.