Kenyan shilling steady on tea, diaspora FX inflows

NAIROBI: Kenya’s shilling was steady against the dollar on Wednesday, supported by dollar inflows from the tea sector and diaspora remittances, one commercial bank trader said.

The shilling traded at 128.50/129.50 to the dollar at 0843 GMT, LSEG data showed, the same as Tuesday’s closing rate.

Kenyan shilling steady, to remain level this week, traders say

The market is taking the central bank’s Tuesday decision to lower its lending rate in its stride, the trader said.