Kenyan shilling expected to ease on high liquidity

NAIROBI: The Kenyan shilling was stable on Monday and traders said it was likely to come under pressure due to ample liquidity which could help banks build up their dollar holdings.

At 0922 GMT, commercial banks quoted the shilling at 100.25/45 per dollar, the same as Friday's close.

The weighted average interbank rate on the overnight borrowing market fell to 3.8575 percent on Friday from 4.2190 in the previous session, showing there was a glut of liquidity.