Shilling holds steady, seen rangebound
01 December 2015, 19:05
Nairobi - The Kenyan shilling barely moved on
Tuesday, with traders expecting the local currency to stay in a tight
range against the dollar in the build-up to the traditionally quiet
At 0650 GMT, commercial banks posted the shilling at 102.15/25, little changed from Monday's closing rate of 102.20/30.
"Demand and supply is equally matched today," one Nairobi-based trader said. "We are not expecting much activity."
shilling has been stuck in a narrow band of 102.00-102.50 for weeks as
importer dollar demand keeps it from appreciating beyond 102.00 and the
prospect of central bank intervention keeps it from weakening past
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