Kenya's shilling steady, seen rangebound

NAIROBI: Kenya's shilling was flat on Thursday and was expected to remain rangebound during the session on thin trading volume.

By 0743 GMT, commercial banks quoted the shilling at 101.75/85 to the dollar, unchanged from Wednesday's close.

"It's very quiet. The market is very slow," said one Nairobi-based trader, adding that the shilling was likely to stay in a tight range between 101.60 and 101.90.

The shilling has been stable this year after losing 11 percent against the dollar in 2015.