The Kenyan shilling edged higher against the US dollar on Wednesday, bolstered by foreign exchange inflows from the diaspora and central bank support, according to traders.
As of 0948 GMT, the shilling was trading at 128.50/129.50 per dollar, improving from 128.65/129.65 in the previous session.
A trader at a commercial bank noted that the currency is likely to remain supported in the short term, particularly as the market anticipates the results of an upcoming infrastructure bond, which typically attracts significant foreign investment.
