NAIROBI: The Kenyan shilling was stable on Monday in slow trade and was expected to stay in a tight range in coming days. Stocks rose marginally.
At close of trade at 1300 GMT, commercial banks quoted the shilling at 91.35/45 to the dollar, unchanged from Friday's close.
"Today it was very slow, very few trades coming in. It's a very quiet trading session," John Muli, a trader at African Banking Corporation, said.
Traders said the shilling was expected to trade in the 91.20-91.70 range over the coming week.
The shilling, down 0.8 percent against the dollar so far this year, has been supported by central bank's liquidity mop ups over the past week. Absorbing excess liquidity makes it costlier to hold dollars, which in turn lends support to the shilling.
The bank mopped up a total 6.77 billion shillings on Monday. It had sought to absorb 15 billion shillings.
On the Nairobi Securities Exchange, the main NSE-20 Share Index was up 8.27 points or 0.15 percent to close at 5,499.64 points.
On the bond market, government bonds worth 2.44 billion shillings ($26.73 million) were traded, from 3.54 billion shillings on Friday.
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