Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Kenya shilling steady, national budget eyed

09 June 2014, 11:28

Nairobi - The Kenyan shilling was unchanged against the dollar on Monday and traders said it was likely to stay in a tight range ahead of news of next year's budget later in the week.

At 0725 GMT, commercial banks posted the shilling at 87.45/55 per dollar, the rate it closed at on Friday.

"For now we will stick to the 87.20-70 range as we focus on the budget and the Eurobond for direction," said a trader with a leading commercial bank.

Finance Minister Henry Rotich is scheduled to present the government's budget for the fiscal year starting on July 1 to parliament on Thursday. His speech will include the latest guidance on growth, inflation and borrowing projections.

Traders said if the East African nation secures strong demand for its debut Eurobond, which it is now marketing to investors abroad, the shilling could get a boost.

"We could see a knee-jerk reaction (to the success of the Eurobond). We should see the shilling initially appreciate," said a trader.

- Reuters


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Wilwon Ochieng
Deputy Governor's ally found with...

The EACC has recovered KES 2 million in fake currency from a close ally of Deputy Governor for Tharaka Nithi Eliud Mati. Read more...

Submitted by
William Korir
Mudavadi given permission to join...

Musalia Mudavadi has been ghranted permission by his party to join the CORD Coalition. Read more...

Submitted by
Victor Tinto
EACC officers raid Deputy Governo...

EACC officers raided the home of a Deputy Governor as theft case continues in court. Read more...

Submitted by
Wilson Ochieng
New IEBC bosses to be named Novem...

New IEBC bosses will be named on November 30. Read more...

Submitted by
William Korir
DP Ruto has spoilt my name, activ...

DP William Ruto has spoilt my name, activist complains. Read more...

Submitted by
Wilson Ochieng
Apologise for attack on Auditor G...

Apologise for attack on Auditor General, President Uhuru Kenyatta is told by Kisumu Senator Anyang Nyong'o. Read more...