- THE shilling is expected to gain from foreign currency inflows from tourism and exports of cash crops which will subdue pressure on the local currency.
The CRDB Financial Highlights on its part show that the local currency traded gained slightly on Monday due to slight diminish of importers demand and central bank support in the market trying to curb the pressure on the shilling.
The same trend is expected in few days to come supported by agricultural inflows.
The local money market is of healthy liquidity with rates in all of its instruments trending downwards.
NMB Bank said in its e-market report that the local currency edged slightly higher than Monday against the dollar buoyed mainly by positive sentiments from importers that dollar flows from sesame and tobacco could strengthen the shilling in the days ahead.
However, demand remains, which can reverse the trend in the days to come should the inflows not match.
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