Kenyan shilling firm on tight liquidity in money markets

NAIROBI: The Kenyan shilling was firm against the dollar on Monday due to thin demand from importers and tightening liquidity in the local money markets, traders said.

At 0853 GMT, commercial banks quoted the shilling at 100.40/60 per dollar, compared with 100.50/70 at Friday's close.

The weighted average interbank lending rate rose to 8.4545 percent on Friday from 8.3475 percent during the previous session. The central bank said it planned to inject 5 billion shillings into the money market on Monday.