NAIROBI, Nov. 10 (Xinhua) -- The Kenya shilling ended the week stronger against the U.S. dollar on Friday as it crossed into the 103.5 mark territory.
The shilling traded at an average of 103.58 to the dollar during the session, up from 103.61 dollars in the previous session.
The Central Bank of Kenya quoted the local unit at 103.59 against the dollar, which was a gain of 0.01 percent from 103.60 from previous session. On Thursday, the shilling gained with a similar margin.
On the other hand, commercial banks in the East African nation put the Kenya currency at unchanged position of between 103.50 and 103.70, same as in the previous day.
Traders in the financial institutions said the currency was advancing against the dollar due to declining dollar demand from importers amid tight liquidity in the market.
The shilling has maintained a positive growth this week even as it awaits the start of the hearing of two presidential petitions filed against President Uhuru Kenyatta's win in Oct. 26 polls. Hearing is set to start next week.
Against the British pound, the shilling on Friday strengthened by 0.24 percent to close the week at a high of 135.64, as it sustained a positive trend following the hiking of the country's benchmark rate for first time in a decade.
