NAIROBI, May 25 (Xinhua) -- The Kenyan shilling declined further against the U.S. dollar, albeit marginally, on Friday as demand for dollars by corporates swelled.
The local unit traded to the dollar at an average of 101.10, a decline from 101.00 in the session on Thursday. The Central Bank of Kenya placed the shilling at 101.07 per dollar, a continued fall from Thursday's level of 101.00.
Commercial banks, on the other hand, quoted the currency at between 101.00 and 101.20, with the margins remaining unchanged in the previous session.
Currency traders attributed the decline to the end-month demand for dollars by importers. The weakening of the Kenya Shilling against the dollar reflected increased demand by corporates due to dividend payments, according to the central bank.
Against the British pound, the shilling strengthened slightly to end week on Friday at 135.32 from 134.79 in the last session.
Among the regional currencies, the Kenya shilling strengthened against the Ugandan shilling and the Rwanda Franc but weakened against the Tanzania shilling and the Burundi Franc. Enditem
