Shillings end week steady against dollar

The Kenya shilling held steady against the dollar in a quiet session on Friday, with traders expecting it to ease in coming days.

Commercial banks quoted the local currency at Sh77.35/45 to the dollar, the same as Thursday’s close.

"We have been oscillating between Sh77.25 and Sh77.45, so there has not been much of a change. There hasn’t been any fundamental driver for it to move out of this range," said Chris Rwengo, head of trading at Standard Chartered Bank.

However, some traders said they saw the shilling trading in the Sh77.00- Sh77.60 range in coming days.

"We do not expect much activity today as banks square off positions for weekend. The pressure on the shilling should remain," Bank of Africa said in its market report.

—Reuters