NAIROBI: The Kenyan shilling held steady on Thursday, with traders expecting the trend to continue amid less dollar demand as companies close their books for the holiday season.
At 0730 GMT, commercial banks quoted the shilling at 90.35/45 to the dollar, equal to Wednesday's close.
"As companies close out for the festive season, we shall see less dollar demand. So we expect the shilling to be supported by that a bit," said a trader at a major bank in Nairobi.
Traders forecast the shilling, which has lost 4.1 percent to the dollar so far this year, to trade in the 90.00 to 90.60 range against the dollar in the next few days.
Another trader at a Nairobi-based commercial Bank said the security situation in Kenya could still undermine the shilling.
"I hope the security situation remains calm, that there are no incidents, because that would effect us also," he said.
A fall in tourist numbers - another key source of hard currency inflows for east Africa's biggest economy - following a spate of militant Islamist attacks has put pressure on the shilling.
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