Kenyan shilling stable, expected to ease due to increased importer demand – ZAWYA
At 0738 GMT, commercial banks quoted the shilling at 120.15/35 per dollar
Kenya's shilling was steady on Tuesday and traders said it was forecast to weaken due to increased demand for dollars from general merchandise importers. At 0738 GMT, commercial banks quoted the shilling at 120.15/35 per dollar, compared with Monday's close of 120.10/30.
Traders said Monday's court ruling that upheld president-elect William Ruto's election victory meant the shilling's trade was now fully driven by supply and demand fundamentals.
"We do expect the shilling to stop depreciating, now that the (political) uncertainty is gone with the general election. We should see some stability, even if the shilling is not appreciating," a trader at one commercial bank said. ………………………Shilling spot rates …………………Shilling forward rates …………………..Cross rates …………………………….Local contributors …………………..Central Bank of Kenya Index …………………Kenyan Bonds contributor pages ……………Treasury bill yields ………………Central bank open market operations …………………….Horizontal repo transactions , …………….Daily interbank lending rate ………………………..Kenya Bond pricing ……………………………NSE-20 Share Index ……………………………NSE-25 Share Index ……………………………NSE All Share Index ………………………FT NSE Kenya 15 Index …………………….. FT NSE Kenya 25 Index SPEED GUIDES: (Reporting by George Obulutsa; Editing by Aaron Ross)
