NAIROBI: The Kenyan shilling was steady on Monday and traders said it was expected to remain under pressure due to end-month dollar demand from importers and other corporate clients.
At 0803 GMT, commercial banks quoted the shilling at 89.10/30 to the dollar, compared with Friday's close of 89.10/20.
Traders said the shilling was expected to weaken as the month drew to a close, due to demand from importers in sectors like manufacturing and energy.
"It's the end of month and (there is) the usual corporate demand, so that's what's going to keep it on a weaker note," said Sheikh Mehran, head of trading at I&M Bank.
The shilling, which has lost 2.9 percent against the dollar in the year to date, will trade in the 88.80 to 89.50 range in the coming days.
"We might come under slight pressure from the end-month tickets," said a trader at one commercial bank.
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