The Kenya shilling strengthened on Monday against the U.S. dollar boosted by the conclusion of the repeat polls.

While the country draws closer to a two-month political standoff that had battered the currency, analysts, however, warned the polls may open another chapter in the standoff that divided the country.

The shilling on Monday traded at an average of 103.7 against the dollar, up from 103.80 at the end of last week.

The Central Bank of Kenya placed the currency at 103.69 against the greenback, an increase from Friday's 103.81.

Commercial banks, on the other hand, put the local unit at between 103.60 and 103.80 up from 103.85 and 103.95.

Traders at the financial institutions noted that the shilling had picked cue from the successful conclusion of repeat presidential polls, which the opposition, however, boycotted.

Last week, the Kenya Shilling depreciated against the dollar due to importers bid to accumulate more dollar holdings following increased political uncertainty.

Analysts at Cytonn on Monday said the shilling would remain relatively stable against the dollar in the short-term, supported by the weakening of the greenback in the global markets and the apex bank's activities in the money market as they have sufficient forex reserves, currently at 7.2 billion dollars or an equivalent to 4.8 months of import cover.