× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS
×

Kenyan Shilling remains stable against dollar

BUSINESS
By Jevans N Miyungu | June 21st 2014

The shilling was little changed against the dollar Friday, and traders said it was likely to remain supported next week due to positive sentiment and tighter liquidity.

Commercial banks posted the currency at Sh87.30/40, unchanged from Thursday's close.

The shilling has gained 0.6 per cent against the dollar this week, boosted by  successful $2 billion (Sh174 billion) debut Eurobond issue, offsetting the impact of renewed attacks in Kenya by militants although they limited gains.

Traders said the shilling was likely to hover at around Sh87.20 next week.

"We expect the shilling to be supported for the next week," said Nahashon Mungai, a trader at KCB Bank, also citing lower demand for dollars by firms and tighter money market liquidity.

-Reuters

Share this story
Farmers brace for huge losses as tea prices fall sharply
Tea prices have been on free fall at the Mombasa tea auction, upsetting fundamentals of the traditional supply chain movement.
Survey: Why 40 pc of workers want to quit their jobs
More than half of 18 to 25 year-olds in the workforce are considering quitting their job. And they are not the only ones.
.
RECOMMENDED NEWS
Feedback