This archive report was first published on 20 December 2019.
On December 20, 2019, the Central Bank of Kenya quoted the local unit exchanging at a mean rate of KSh 100.7118 to the US Dollar, while buying the greenback at KSh 100.6118 and selling at KSh 100.8118.
According to traders, the Kenyan Shilling's gain against the US Dollar was supported by inflows from diaspora remittances amid thin importer dollar demand and tight liquidity in the local money market.
Commercial banks quoted the local unit at KSh 101.25 to the US Dollar, a slight improvement from KSh 101.40 on Tuesday.
Financial experts attributed the strengthening Shilling to huge spending by diaspora visitors, coming in for the holiday season.
