Forex inflows push shilling to new high

The shilling last week closed at a three-month high against the dollar, buoyed by increased foreign inflows and liquidity withdrawal as investors pumped cash into government securities.

Lenders quoted the currency at an average of 100.98 units to the dollar in afternoon interbank trading on Friday, up 0.8 per cent during the week, the lowest average seen since mid-October 2018.