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Markets

Kenyan shilling holds steady as dollar supplies perk up

  • At 0740 GMT, commercial banks posted the shilling at 110.00/20 per dollar.
19 Jan 2021

NAIROBI: The Kenyan shilling was stable against the dollar on Tuesday as hard currency inflows from Kenyans abroad and offshore investors into the local debt market kept it well supported.

At 0740 GMT, commercial banks posted the shilling at 110.00/20 per dollar, unchanged from Monday's closing rate.

Cash sent by Kenyans living abroad jumped 11% last year, the central bank said, while more dollars are expected to flow in this week as foreign investors participate in an auction of a government infrastructure bond.