Kenyan shilling stable; traders see it gaining on remittance and NGO flows

NAIROBI: Kenya’s shilling was stable on Monday, but traders said they expected it firm because of dollar inflows from non-governmental organisations, remittances and foreign investors buying government bonds on sale this month.

At 0658 GMT, the shilling traded at 129.00/129.40 per dollar, unchanged from Friday’s closing rate.

Kenyan shilling flat on lull in foreign exchange demand

The government is selling two infrastructure bonds aimed at raising up to 70 billion shillings ($543 million) this month, with an auction due on Feb. 12.