Business
Shilling rebounds on dollar inflows
By the close, the local currency was quoted at 3550/3560, firmer than the opening levels of 3575/3585.
Shilling rebounds on dollar inflows
By: NewVision Reporter, Journalists @NewVision
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After three straight sessions of losses, the shilling rebounded in Thursday's trading session, supported by month-end dollar inflows that outweighed existing corporate demand.
By the close, the local currency was quoted at 3550/3560, firmer than the opening levels of 3575/3585.
Money market liquidity remained tight, according to Absa report, with overnight and one-week funding trading higher at average rates of 10.58% and 11.00%, respectively.