NAIROBI, Nov. 17 (Xinhua) -- The Kenya shilling was resilient on Friday, closing the week stronger as it strengthened marginally against the U.S. dollar despite political uncertainty.
The shilling traded at an average of 103.70 against the greenback, an improvement from Thursday's 103.75.
The Central Bank of Kenya quoted the shilling at 103.69 from 103.74 in the previous session. On Thursday, the shilling weakened against the dollar by 0.06 percent.
On the other hand, commercial banks in the East African nation placed the shilling at between 103.60 and 103.80.
Traders in the financial institutions attributed the performance of the currency to the ongoing petitions challenging President Uhuru Kenyatta's win in Oct. 26 polls at the Supreme Court.
The judges on Thursday concluded listening to lawyers' arguments and retreated to write their judgment, which they will deliver on Monday.
The political uncertainty in the country has kept away investors, with speculators buying the dollar in bulk ahead of the ruling to cushion them in case the shilling falls.
The shilling is expected to take a new direction on Monday when the judges give their verdict on the repeat polls.
Against the British Pound, the shilling weakened marginally to close at 136.83 from 136.54 on Thursday. Enditem
