Market News
Kenyan shilling broadly steady in balanced market - REUTERS
Hereward Holland
NAIROBI, Sept 10 (Reuters) – The Kenyan shilling was broadly steady against the U.S. dollar on Tuesday, with the supply of foreign exchange matched by demand from all sectors in a muted session, traders said.
As of 0849 GMT, data from London Stock Exchange Group (LSEG) indicated the shilling trading at 128.30/129.30 to the dollar, slightly different from Monday’s close of 128.25/129.25.
“There’s not much activity happening. There’s just enough demand for the supply,” a trader at a commercial bank said.
The shilling has been relatively stable for several months, after a strong rally in the first half of 2024 as concerns eased that the East African country would default on a $2 billion Eurobond that matured in June.
(Reporting by Hereward Holland; Editing by Bate Felix)
