RTRS:Kenyan shilling gains as tea sector sells dollars
NAIROBI (Reuters) - The Kenyan shilling extended gains on Thursday, boosted by dollar sales by the tea and tourism sectors, traders said.
The shilling inched up to 85.00/20 to the dollar at 0711 GMT from Wednesday's close of 85.05/25.
"Strong dollar supply (is) coming from tea and tourism players, while importers seem to have filled their (dollar) orders," said a trader at a commercial bank.
Traders said they expected the local currency to come under pressure from importers buying dollars to meet end-month obligations early next week.
The shilling has been fairly stable this year, supported by the central bank's tight monetary policy, under which it has regularly mopped up liquidity via repurchase agreements.
"The central bank has been ...playing its cards very well," said Robert Gatobu, a trader at Bank of Africa.