Kenyan unit holds steady

Kenyas shilling was little changed against the dollar on Friday despite hard currency inflows from agricultural exports and dealers forecast it would remain in a tight range in the days ahead. The commercial banks posted the unit at 80.00/80.10 per dollar, the same rate it closed on Thursday.
"There is no impetus to drive the currency. We will be stuck here, but going forward, more agriculture inflows might help the shilling," said Stephen Kimani, a senior dealer at Co-operative Bank. He said tea exporters had sold hard currencies during the session which were quickly snapped up leaving the shilling unchanged against the greenback after a slight rise.