NAIROBI: Kenya’s shilling was steady on Thursday, as the central bank bought dollars to stabilise fluctuations in the market and bolster their reserves, a commercial trader said.

The East African currency traded at 128.50/129.50 to the US dollar as of 0652 GMT, the same as Wednesday’s closing rate, per LSEG data.

Kenyan shilling firms to new 1-year high

The country has seen month-end dollar demand from various corporate and retail sectors, the trader said.

The shilling has been stable since early August.