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NAIROBI: Kenya’s shilling held steady on Wednesday and it was expected to firm in the days ahead due to inflows from offshore investors into local government bond sales, and commercial banks unwinding their long dollar positions, traders said.
Kenyan shilling steady, seen gaining as banks unwind positions
At 0719 GMT, commercial banks quoted the shilling at 142.50/143.50 per dollar, the same as Tuesday’s closing rate.