NAIROBI: The Kenyan shilling was steady on Thursday and traders said it was expected to keep in a tight range against the US dollar in the coming days.
At 0639 GMT, commercial banks quoted the shilling at 86.45/55 to the dollar, unchanged from Wednesday's close. Traders said they forecast the shilling would trade between 86.20 to 86.60 in the next few days.
"We have seen very little activity from both the interbank and corporate (clients), an indicator that demand and supply could be well-matched," said Duncan Kinuthia, head of trading at Commercial Bank of Africa.
Traders said they were watching for any central bank action in the money markets. On Monday, it mopped up 4.43 billion shillings in excess liquidity.
"The market is very stable. No movements. We'll watch what central bank does," said Andlip Nazir, senior trader at I&M Bank.
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