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NAIROBI (Reuters) – The Kenyan shilling strengthened against the dollar on Monday due to commercial banks buying shillings to meet central bank’s capital ratio requirements as markets await poll results from a repeat election held last week, traders said.
At 0734 GMT, commercial banks quoted the shilling at 103.60/80 per dollar, compared with 103.75/95 at Friday’s close.
Results at the national tallying centre showed incumbent president Uhuru Kenyatta leading with 98.27 percent of votes cast with 266 out of 291 constituencies having declared results.
(Reporting by John Ndiso)
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