Kenya's shilling ends flat after retreating from early gains

NAIROBI: Kenya's shilling ended almost unchanged on Wednesday, after giving up initial gains on the back of dollar inflows from non-governmental organisations (NGOs). Shares were also steady.

At the official close of trade at 1330 GMT, commercial banks quoted the shilling at 101.75/85 to the dollar, compared to Tuesday's close of 101.80/90. It touched 101.55/65 in early trade.

"We saw appreciation during the day, then some slight depreciation," a senior trader at one commercial bank said.

A second trader said the shilling had initially been boosted by dollar sales by non-governmental organisations.

On the Nairobi Securities Exchange, the main NSE-20 Share Index was down 2.49 points to close at 3,851.07.