Shilling strengthens on NGO dollar inflows

Kenya's shilling strengthened on Wednesday, boosted by dollar inflows from non-governmental organisations (NGOs).

Commercial banks quoted the shilling at101.65/75 to the dollar, compared to Tuesday's close of101.80/90.

"We've seen very big flows from NGOs," said one Nairobi-based trader. He added the local currency has also been helped by subdued corporate demand for dollars.

The shilling has been stable this year after losing 11 per cent against the dollar in 2015.