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Kenyan Shillings Gains Strenght

finance

Dec 30, 2016

 

Dec 30. The Kenya's shilling and Zambia's kwacha are seen holding steady against the dollar while Nigeria's naira will likely weaken, traders said. Kenya's shilling is seen holding steady in the week to Thursday due to slow activity before weakening due to a resurgence in dollar demand. At 0800 GMT, commercial banks quoted the shilling at 102.30/50 to the dollar, compared with last Thursday's close of 102.25/45. "We might not see too much play at the outset, because it is the beginning of the year. But (in) my view, the shilling ... is going to be under pressure. I do not see anything meaningful that will cause the shilling to strengthen tremendously," a trader at one commercial bank said.
Source: EIN

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