Published On: Mon, Mar 30th, 2020

Kenyan shilling holds steady against the dollar

The Kenyan shilling was
stable on Monday due to commercial banks and some multinational
companies offloading dollars to fund their activities, traders
said.
    At 0950 GMT, commercial banks quoted the shilling at
104.55/75 per dollar, compared with 104.50/70 at Friday's close.
    Market participants had built up their dollar holdings in
the past two weeks after the shilling weakened significantly due
to concerns about the impact of the coronavirus, traders said. 
    "Now they need to sell some of those dollars," said a senior
trader from one commercial bank.

Source : Reuters
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Kenyan shilling holds steady against the dollar
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