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ksh

Kenya’s Shilling weakened as companies bought dollars taking advantage of a strengthening in the local currency on Tuesday after the Central Bank sold dollars.

At the 4:30 pm close of trade yesterday commercial banks quoted the shilling at 101.90/102.00 to the dollar, down from Tuesday’s 101.45/65.

The shilling gained after the bank sold dollars on Monday and Tuesday to counter a fall in the shilling to a new three-and-a half year low of 103.85/95 to the dollar.oil companies bought most of the dollars to finance their operations in the energy sector.