Kenya shilling firms, Uganda’s flat against dollar

The shilling has been stable for the better part of this year, exchanging at above Sh100 against the US dollar. [Photo: Standard]
NAIROBI, - The Kenyan shilling KES firmed against the dollar on Tuesday supported by tight liquidity in the local money market amid subdued demand from merchant importers, traders said.

At 0800 GMT, commercial banks quoted the shilling at102.35/55 per dollar, compared with 102.45/65 at Monday's close.

The Ugandan shilling traded unchanged on Tuesday on the back of slackening demand for hard currency from goods importers.

At 0930 GMT commercial banks quoted the shilling at 3,695/3,705, same level as Monday’s close.

SEE ALSO :Kenyan shilling weakens due to importer demand, excess liquidity

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