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Kenyan shilling stable amid excess liquidity in money markets

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By Shoaib Ur RehmanReuters
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NAIROBI: The Kenyan shilling was stable against the dollar on Thursday supported by diaspora remittances but was seen under pressure from excess liquidity in the local money markets, traders said.

At 0854 GMT, commercial banks quoted the shilling at 100.80/101.00 per dollar, the same as Tuesday's close. Kenyan markets were closed on Tuesday for a public holiday.

The daily interbank lending rate was quoted at 3.4630 percent on Tuesday, compared with 3.6861 in the previous session.

Copyright Reuters, 2018
 

 

 

 

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