Shilling to hold steady

Kenya’s and Tanzania’s shillings are expected to hold steady against the dollar in the next week to Thursday, as will Zambia’s kwacha, traders said.

The Kenyan shilling is expected to be stable, supported by inflows from offshore investors buying government debt and tightening liquidity in the money market, traders said.

Commercial banks yesterday quoted the local unit at 103.15/35, compared to 103.00/20 last Thursday.