NAIROBI, July 16 (Xinhua) -- The Kenyan shilling strengthened against the U.S. dollar on Monday, supported by growing agriculture inflows that helped boost forex reserves.
The shilling traded against the dollar at 100.60, up from 100.80 at the end of last week on Friday.
The Central Bank of Kenya quoted the shilling at 100.66 on Monday, a significant growth from 100.79.
Commercial banks placed the shilling at an even stronger position of between 100.50 and 100.60, a growth from 100.70 and 100.90 on Friday.
Forex traders attributed the rise of the shilling to a surge in inflows from the horticulture sector.
Against the British pound, the shilling rose to 132.58, up from 133.30 at the end of last week.
There has been stronger rise in inflows from the agriculture and horticulture sectors, helping to keep the shilling stable since last month, according to Cytonn, a Nairobi-based investment firm.
