Kenyan shilling holds steady, shares inch up

NAIROBI: Kenya's shilling was steady on Wednesday and traders said they expected it to firm slightly in coming days, helped by dollar inflows from tea exports.

The main share index edged up.

At the 1330 GMT close of trade, commercial banks quoted the shilling at 101.75/85 to the dollar, unchanged from the previous day's close.

"The view is still for it to most likely appreciate. We have more inflows than outflows," a senior trader at one commercial bank said, citing tea export earnings.

A trader at a second bank said end-month dollar demand from telecommunications, energy and manufacturing was expected to limit the shilling's gains.