Shilling steady against the dollar ahead of festive season
At the opening of the currency market on Tuesday, the Kenyan shilling barely moved, with traders expecting the local currency to stay in a tight range against the dollar in the build-up to the traditionally quiet Christmas season.
Commercial banks posted the shilling at 102.15 buying, 102.25 selling, according to Reuters.
According to the Central Bank of Kenya, the Kenyan currency is exchanging at an indicative rate of 102.08 buying, 102.27 selling to the dollar.
It is trading at 107.98 buying, 108.22 selling to the euro and at 153.48 buying, 153.81 selling to the British Pound Sterling.
Against its regional counterparts, the Kenyan shilling is exchanging at 7.24 buying, 7.34 selling to the Rwandese Franc, 21.11 buying, 21.25 selling to the Tanzanian shilling and at 32.70 buying, 32.86 selling to the Ugandan shilling.
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