NAIROBI: The Kenyan shilling held steady against the dollar on Monday, helped by sluggish demand for the US currency. Shares rose slightly.
At official close of trade at 1330 GMT, commercial banks posted the shilling at 101.75/85 per dollar, barely moved from Friday's close of 101.80/90.
"It's been a very slow day. We haven't seen any demand or supply from either side to move the market," said a trader at a Nairobi-based commercial bank. A second trader said the local currency has benefited from weak dollar demand.
The shilling has been steady against the dollar this year, bucking the trend among major African currencies, which have been hit by the commodities rout.
On the Nairobi Securities Exchange, the main NSE-20 Share Index rose 3.87 points, or 0.1 percent, to close at 3,794.41 points.
Comments
Comments are closed for this article.