NAIROBI: The Kenyan shilling was broadly stable on Tuesday and traders said it could strengthen in the days ahead, helped by dollar inflows from non-governmental organisations.
Shares slipped, extending losses from Monday, the first day of trading this year.
At the 1330 GMT close of trade, commercial banks quoted the shilling at 102.25/35 to the dollar, barely moved from Monday's close of 102.20/30.
"Maybe when inflows improve, we will see it gaining. I have seen some big NGOs (non-governmental organisations) making enquiries. But for now we are locked in range-bound trade," a trader at one commercial bank said.
On the stock market, the benchmark NSE-20 share index fell 0.82 percent to close at 3,974.58 points.
The index lost 20 percent last year as investors fled from
risky assets ahead of a long-anticipated December rate increase by the US Federal Reserve.
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