NAIROBI: Kenya's shilling was steady on Tuesday and traders said it was seen easing slightly in the next few days due to importer dollar demand from sectors like energy. Stocks closed higher.
At official close of trade at 1330 GMT, commercial banks quoted the shilling at 101.75/85 to the dollar, the same as Monday's close.
"We saw dollar inflows early in the morning. But then demand picked up from the manufacturing sector, so the shilling went back to where it had opened," said a senior trader at one commercial bank.
The trader said he saw an uptick in dollar demand as the week continues. Typically at the end of the month, companies from sectors like manufacturing, telecommunications and energy come to the market seeking dollars.
On the Nairobi Securities Exchange, the main NSE-20 Share index was up 30.53 points to close at 3,844.58 points.
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