Foreign exchange dealers believe that the demand for the shilling and inflows will keep the exchange rate fairly strong and not speculative trading in the coming days and weeks. In early trading at the commercial banks, the shilling had recouped ten cents of what it had lost at the opening, said Mr Chris Rwengo, chief dealer at Stanchart. He said that though he expects the shilling to remain fairly strong, small moves driven by daily client requirements and demands. Ms Mary Mumbi, a dealer at Nairobi Forex Bureau, said that forex inflows continued to determine the exchange rates but she added that the rates are difficult to predict currently. For the first half, the tourism sector experienced a 25 per cent growth with Sh34 billion in earnings compared to Sh27 billion in earnings for the first half of 2006. AllAfrica aggregates and indexes content from over 125 African news organizations , plus more than 200 other sources , who are responsible for their own reporting and views. read more
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