August 18, 2017 / 8:41 AM / a month ago

Kenyan shilling seen firming as the opposition heads to court

Kenya 10 shillings coins are seen in a plastic container inside a cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya

NAIROBI (Reuters) - Kenya’s shilling was stable on Friday and it was expected to strengthen further due to banks cutting dollar positions after political tensions over a disputed presidential vote results eased.

At 0852 GMT, commercial banks quoted the shilling at 103.25/45 to the dollar, the same as Thursday’s close.

On Wednesday, opposition leader Raila Odinga said he would challenge last week’s re-election of President Uhuru Kenyatta in court, reducing fears that more protests by his supporters may have led to widespread violence.

Reporting by George Obulutsa; Editing by Duncan Miriri

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