Kenyan shilling stable; seen gaining ground on more dollar inflows

NAIROBI: Kenya’s shilling held steady on Tuesday and traders said it was expected to gain ground, helped by some dollar inflows into the market, traders said.

At 0757 GMT, commercial banks quoted the shilling at 153.80/154.00 per dollar, the same as Monday’s closing rate.

Kenyan shilling firms in thin trade, remittances expected to boost

Kenya gets most of its hard currency from remittances sent by its citizens abroad, agricultural exports and non-governmental organisations.