Kenya's shilling steady, stocks edge lower

NAIROBI: Kenya's shilling was steady on Thursday, hovering near the level of 102.50 to the dollar where the central bank has intervened to support the currency in recent weeks. Shares slipped.

At the 1330 GMT close, commercial banks quoted the shilling at 102.35/45, the same as Wednesday's close.

"There was good demand (for dollars) from all sectors. It was just holding on at 102.50 because of expectations that the central bank will intervene at these levels," said a senior trader at one commercial bank.

On the Nairobi Securities Exchange, the main NSE-20 Share Index was down 6.44 points, or 0.16 percent, to close at 4,005.22 points.