Kenyan shilling firms on tight liquidity, offshore investor flows

The Kenyan shilling strengthened against the dollar on Wednesday supported by tight liquidity conditions in the local money market and inflows from offshore investors buying stocks and government debt, traders said. At 0703 GMT, commercial banks quoted the shilling at 102.10/30 per dollar, compared with 102.25/45 at Tuesday's close.

The strengthening shilling comes against a backdrop of tightening government regulation in Kenya with intervention across of a variety of industries.