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Heavy dollar demand weakens the shilling
A customer at the Goldfiled Forex Bureau where the US dollar traded at Kshs 83 buying and selling at Kshs 84.50. December 27, 2011. PHOTO | DIANA NGILA | NMG
The shilling weakened further against the US dollar Wednesday to touch the 101 level on a backdrop of heavy buyer demand for the greenback that outweighed support from diaspora and export inflows.
Commercial banks traded dollars at an average of 101.05 in the morning, before the shilling regained some ground in the afternoon to exchange at an average of 100.95 to the Us currency.
