Shilling gains slightly

The local currency had a slight gain in the first trading session of the week as it edged 2 shillings high from last Friday’s session, on the back of slowed dollar demand from corporate as they pay month end taxes. The market closed at 1585/1595 levels.

On the money market overnight weighted average rate traded slightly high at 7.88 per cent with volumes picking to16.0bn/- from 10.8bn/- last Friday, as investors eyes the T-bills auction on Wednesday coupled with month end tax payments
Source: NMB's e-markets
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