Kenyan shilling holds steady, dividend payments eyed

NAIROBI: The Kenyan shilling was unchanged against the dollar on Monday as traders turned their attention to dividend payments by local firms, to their shareholders abroad, to determine potential demand for dollars.

At 0916 GMT, commercial banks posted the shilling at 101.15/25 per dollar. Local firms, especially banks with significant foreign shareholding, close their books from this week, meaning they will be buying dollars for dividends.