Kenya’s shilling steady, expected to firm due to tea exporter inflows

NAIROBI: Kenya’s shilling was stable on Wednesday and was forecast to strengthen, helped by dollar inflows from tea exporters and diaspora remittances, traders said.

At 0823 GMT, commercial banks quoted the shilling at 132.00/133.00 per dollar, unchanged from Tuesday’s closing rate.

Kenyan shilling steady; importer dollar demand, inflows match

The shilling’s current level puts it close to a one-year high, having last bid at 132.00 per dollar on March 30, 2023, according to LSEG data.