ANL 36.55 Increased By ▲ 0.90 (2.52%)
ASC 14.80 No Change ▼ 0.00 (0%)
ASL 26.10 Increased By ▲ 1.25 (5.03%)
AVN 90.90 Decreased By ▼ -0.35 (-0.38%)
BOP 7.80 Increased By ▲ 0.01 (0.13%)
BYCO 10.21 Increased By ▲ 0.06 (0.59%)
DGKC 125.20 Increased By ▲ 0.95 (0.76%)
EPCL 57.50 Increased By ▲ 1.00 (1.77%)
FCCL 24.35 Increased By ▲ 0.19 (0.79%)
FFBL 28.80 No Change ▼ 0.00 (0%)
FFL 16.05 Decreased By ▼ -0.05 (-0.31%)
HASCOL 9.79 Increased By ▲ 0.07 (0.72%)
HUBC 79.00 Decreased By ▼ -0.25 (-0.32%)
HUMNL 6.77 Increased By ▲ 0.14 (2.11%)
JSCL 21.81 Increased By ▲ 1.11 (5.36%)
KAPCO 40.10 Decreased By ▼ -0.15 (-0.37%)
KEL 3.83 Increased By ▲ 0.02 (0.52%)
LOTCHEM 16.61 Increased By ▲ 0.41 (2.53%)
MLCF 47.15 Increased By ▲ 0.66 (1.42%)
PAEL 35.23 Decreased By ▼ -0.01 (-0.03%)
PIBTL 10.35 No Change ▼ 0.00 (0%)
POWER 9.25 Increased By ▲ 0.08 (0.87%)
PPL 86.02 Increased By ▲ 0.67 (0.79%)
PRL 25.32 Increased By ▲ 0.32 (1.28%)
PTC 10.01 Increased By ▲ 0.29 (2.98%)
SILK 1.24 No Change ▼ 0.00 (0%)
SNGP 42.05 Increased By ▲ 1.55 (3.83%)
TRG 164.75 Increased By ▲ 1.85 (1.14%)
UNITY 30.76 Decreased By ▼ -0.29 (-0.93%)
WTL 1.48 Increased By ▲ 0.06 (4.23%)
BR100 4,873 Increased By ▲ 37.38 (0.77%)
BR30 25,848 Increased By ▲ 213 (0.83%)
KSE100 45,311 Increased By ▲ 262.65 (0.58%)
KSE30 18,544 Increased By ▲ 107.94 (0.59%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,754
13524hr
Pakistan Cases
734,423
468124hr
Sindh
269,840
Punjab
255,571
Balochistan
20,499
Islamabad
67,491
KPK
101,045
Markets

Kenya shilling slips vs dollar as banks square positions

NAIROBI: The Kenyan shilling weakened 0.3 percent against the dollar in thin volumes on Wednesday after banks squared of
28 Dec 2011

shillingNAIROBI: The Kenyan shilling weakened 0.3 percent against the dollar in thin volumes on Wednesday after banks squared off dollar positions ahead of the New Year, traders said.

At 0735 GMT, commercial banks posted the local currency at 83.95/84.05 to the dollar, leaving the shilling down 3.7 percent against US currency in the year-to-date after an aggressive tightening of monetary policy heaved the shilling off a record low of 107 in October.

Market players expected the shilling to remain broadly steady against the dollar in the run up to the year's end, even though maturing governmet securities are seen easing tight liquidity in the money market.

"There is a bit of demand mainly from the interbank market," Ignatius Chicha, head of markets at Citibank said.

Duncan Kinuthia, head of trading at Commercial Bank of Africa, said the extra liquidity would unlikely affect the shilling's levels as corporate clients remained largely out of the market during the holiday period.

Copyright Reuters, 2011