News

Kenya’s shilling held steady against the US dollar with traders expecting the currency to trade in a tight range throughout the week.
At 9.45 a.m. yesterday, commercial banks quoted the shilling at 101.95/102/05.
“Nothing has happened on Tuesday morning. I don’t see anything on the horizon today that will make us change direction,” said one trader at a Nairobi – based commercial bank.


The shilling, down about 13 per cent against the dollar this year, has firmed in recent weeks due to inflows of dollars from offshore investors chasing high-yielding government debt.
Traders say the shilling, was likely to stay supported as long as the yields on short-term Treasury bills remained elevated.

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