NAIROBI: The Kenyan shilling eased slightly on Thursday because of interbank demand for dollars, and traders said it was expected to remain under pressure in the days ahead as the supply of shillings built up.
At 0715 GMT, commercial banks quoted the shilling at 87.70/80 to the dollar, compared with Wednesday's close of 87.65/75.
"We have seen some interbank (dollar) buying," said a senior trader at one commercial bank.
Traders said the shilling was expected to come under pressure in coming days, as corporate demand for shillings diminished, leaving more shillings in the system.
"The shilling in coming days should be under pressure once the corporate taxes are paid. So the liquidity in the market would weigh on the shilling," the senior trader said.
The shilling is expected to trade in the 87.50 to 88.00 range in coming days, traders said.
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