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Shilling rises modestly vs dollar on tea inflows

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THE shilling rose slightly against the dollar yesterday, supported by tea exporters selling dollars, but traders said greater dollar demand ahead of the Christmas holidays was likely to put pressure on the local currency. Commercial banks quoted the shilling at 85.65/75 against the greenback, a little firmer than Tuesday's close of 84.70/80. "We've seen some inflows from the tea sector which are supporting the shilling," said John Muli, a trader at African Banking Corporation...

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