Stability of the Kenyan Shilling Amid Decreased Dollar Demand

The Kenyan shilling remains stable against the dollar, with little change in its value due to low demand from importers. As of Thursday, the shilling was quoted at 129.25/129.45, consistent with the previous day’s rates.

The Kenyan shilling (USDKES) has demonstrated stability, remaining unchanged as of Thursday, primarily due to a decrease in dollar demand from importers. According to traders, this reluctance to purchase dollars has contributed to the shilling’s steady performance. At 0802 GMT, commercial banks reported the shilling’s value at 129.25/129.45, marking the same rates as the previous day’s closing figure.

In conclusion, the Kenyan shilling maintains its stability in the face of low dollar demand, primarily from importers. This steady performance reflects a consistent exchange rate, suggesting a moderately calm trading environment.

Original Source: www.tradingview.com