Kenya shilling steady against the dollar

Kenya shilling steady against the dollar

Kenya’s shilling was steady against the dollar on Thursday, supported by rising yields on Treasury bills that tends to make the paper more attractive to foreign investors.

Shares slipped to another two-month low.

At the official close, commercial banks quoted the shilling at 102.35/45, the same as Wednesday’s close.

Traders said they expected the currency to remain in a range of 102.00 to 102.50 in coming days.

Traders noted that the average weighted yields on Kenya’s 182-day and 364-day Treasury bills rose at an auction on Wednesday, encouraging foreign investors to buy the paper.

The benchmark NSE 20 share index closed down 44.35 points to end at 3,835.78, a fresh two-month low.

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