Kenyan shilling holds steady against dollar

Usama Fayyaz July 24, 2019

NAIROBI: Kenya’s shilling was steady against the dollar on Wednesday in slow trade, taking a pause after two straight sessions of weakening caused by concerns about the impact of graft.

The Finance Minister Henry Rotich and other senior government officials were on Tuesday charged with various offences related to the award of two dam construction tenders.

At 0813 GMT, commercial banks quoted the shilling at 103.75/85 to the dollar, compared with Tuesday’s close of 103.80/90.

The shilling fell 0.5pc from after the charges against Rotich were announced on Monday.

Copyright Reuters, 2019

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