Kenya shilling holds steady against the dollar

NAIROBI: The Kenyan shilling was little changed on Friday, trading in the narrow range of recent days as importer demand for dollars stayed subdued.

At 0722 GMT, commercial banks posted the shilling at 86.05/15 per dollar, barely moved from Thursday's closing price of 86.00/10.

Market participants said the shilling was likely to be hemmed into a tight band of 85.80-86.30 until importers started to order more dollars.

"There is pretty weak demand and everybody is looking for lower levels to start putting in their hedges," said a trader with a leading commercial bank.