Kenyan shilling hits 20-month high against the dollar ahead of Valentine's Day
The last time the shilling traded at this level was on June 9,2016.
The currency was exchanging at 100.72 units as of midday having gained slightly from opening levels of 100.91/101.11 units against the dollar. It last traded at this level on June 9,2016.
“There have been strong flows targeting the infrastructure bond and the general market sentiment is bullish on the shilling,” Commercial Bank of Africa's head of treasury Raphael Agung' was quoted by Business Daily.
The shilling has seen a steady run against the greenback having gained 2.16 per cent against the US currency since the beginning of the year.
It emerged as one of the most stable currencies in sub-Saharan Africa (SSA) in 2017 after shedding a marginal 0.66 per cent.
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