NAIROBI, March 12 (Xinhua) -- The Kenyan shilling edged up on Monday against the U.S. dollar boosted by rise in inflows and the positive political developments in the East African nation.
The local currency traded at an average of 101.10, a big gain from 101.20 at the end of last week on Friday.
The Central Bank of Kenya placed the shilling per dollar at 101.14, with the currency having risen from 101.20 in the previous session as it sustained an upward trend.
Commercial banks in the East African nation, on the other hand, quoted the currency at between 101.00 and 101.20, a rise from 101.10 and 101.20.
Currency traders attributed the strong showing of the shilling to increased inflows from investors seeking to buy government bonds at the debt market amid improved political climate following a truce between President Uhuru Kenyatta and opposition leader Raila Odinga.
Against the Sterling Pound, the shilling similarly surged to clock a new high of 139.94 from 140.45 at the close of Friday last week.
The Kenyan shilling appreciated last week against the dollar by 0.1 percent to close the week at 101.20 due to end month inflows from horticulture.