NAIROBI, July 27 (Xinhua) --The Kenyan shilling ended the week higher against the U.S. dollar on Friday as inflows from remittances strengthened to offset demand for greenback.
The local unit traded against the dollar at 100.40, an increase from 100.45 in the previous session on Thursday.
The Central Bank of Kenya quoted the local currency at 100.46 to the dollar, with the currency gaining slightly from 100.49 on Thursday.
Commercial banks, on the other hand, placed the shilling at between 100.30 and 100.50 from 100.40 and 100.60.
Forex traders attributed the strengthening of the shilling to increased inflows from Kenyans in the diaspora amid tight liquidity in the market.
Against the British pound, the shilling rose slightly to close at 132.09 from 132.31 in the Thursday session.
The shilling is expected to come under pressure in the coming days due to increased dollar demand from importers as the month ends, but analysts noted with rise in inflows, the currency may remain firm.
