NAIROBI: The Kenyan shilling was flat against the dollar on Wednesday, and traders said they expected the currency to trade in a tight range underpinned by support from the central bank.
At 0700 GMT, commercial banks posted the shilling at 88.30/40 per dollar, unchanged from Tuesday's close.
The central bank pumped an unspecified amount of dollars into the market on Tuesday, lifting the shilling from 88.80/90, its lowest level since December 2011.
"It's a pretty quiet start to the morning," said one trader at a Nairobi-based commercial bank. "I think we are struck in a range for now."
"Chances are if (the shilling weakens), they will sell some more," added the trader, referring to the possibility the central bank might sell some more dollars.
Traders said the local currency was expected to trade between 88.20 and 88.75 in coming days, with the central bank showing the market it is willing to intervene to prop up the shilling.
The shilling has lost about 2.4 percent against the dollar so far this year.
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