NAIROBI, May 24 (Xinhua) -- The Kenyan shilling lost more ground against the U.S. dollar on Thursday to cross below the 101.00 mark due to increased dollar demand.
The shilling traded to the dollar at an average of 101.00, a further decline from 100.90 in the session on Wednesday.
Commercial banks quoted the currency at between 101.10 and 100.20 down from 100.90 and 101.10 margins in the previous session.
The Central Bank of Kenya, on the other hand, placed the shilling at 101.00, a huge fall from Wednesday's level of 100.80.
Forex traders pointed the decline to huge demand for dollars by manufactures and oil dealers to meet end month purchases of imports.
However, the traders noted the Central Bank had sold unspecified amount of dollars on Thursday from its 9.1 billion dollars forex reserves to bolster the shilling. Enditem
