Shilling steady as firms stay away before holiday

Shilling was firm on Monday in subdued trading with many market players staying out of the market as holidays approached.  By early trade, the shilling was quoted at Sh102.20/40 to the dollar, little changed from Friday's close of Sh102.25/35. "Most market players have closed for Christmas. We are trading rangebound," said one dealer, noting that volume was "minimal". The shilling has lost more than 11 per cent of its value this year but has strengthened from September levels when it almost reached an all-time low of Sh106.80. Since early November, it has stabilised, staying mostly in a range of Sh102.00 to Sh102.50.