Kenyan shilling stuck in a tight band

NAIROBI: The Kenyan shilling was unchanged on Wednesday and traders said it would be hemmed in a tight range due to expectations of intervention by the central bank.

At 0617 GMT, commercial banks posted the shilling at 101.40/50 per dollar, unchanged from the previous day's close.

Traders said it touched 101.60/70 in the previous session. They said the shilling would likely stay in a 101.30-102.00 range as they expected the central bank to sell dollars if it weakened beyond that level.