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The Kenyan shilling consolidated its gains against the dollar on Monday and traders said they expected the local currency to firm in coming days, although local traders will keep a cautious eye on fragile world markets.
At 0724 GMT, commercial banks quoted the shilling at 84.80/85.00 per dollar, unchanged from Friday's close.
"The move downwards (gain) was a bit drastic, so now people are trading cautiously keeping an eye both on local and international happenings," said Solomon Alubala, head of trading at Co-operative Bank of Kenya.
"Globally the major currencies have gained against the dollar and I expect the shilling to retrace these gains to about 84.50.
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