Kenyan shilling firm on tight local currency liquidity

NAIROBI: Kenya's shilling held firm on Wednesday morning, helped by tight local currency liquidity and weak demand for dollars from importers and other companies.

By 0658 GMT, the shilling was trading at 91.55/65, unchanged from Tuesday's close.

"Lack of demand from corporates and tight liquidity are helping the shilling," said Sheikh Mehran, head of trading at I&M Bank.

Corporate demand for dollars tends to rise towards the end of month, while last week's bond and treasury bill sales pushed up demand for shillings and provided support, traders said.