NAIROBI: The Kenyan shilling strengthened marginally on Tuesday amid limited corporate demand for dollars. Stocks were down.
At 1330 GMT, commercial banks posted the shilling at 102.25/35 compared to the dollar, slightly stronger than Monday's closing rate of 102.30/40.
Traders expected it to remain in a 102.20-102.50 band in coming days.
"We saw some corporates and banks unwinding their foreign currency positions," said a trader at a commercial bank. "We expect it to stay in a tight range this week".
The shilling is barely moved against the dollar this year and it was among the least volatile of emerging and frontier market currencies last year.
On the Nairobi Securities Exchange, the main NSE-20 Share Index was down by 7.07 points to close at 3745.38.
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