Kenyan shilling steady, activity to pick up next week

A fuel attendant handles Kenyan shilling notes at a petrol station in the capital Nairobi March 15, 2011. REUTERS
A fuel attendant handles Kenyan shilling notes at a petrol station in the capital Nairobi March 15, 2011. REUTERS

The Kenyan shilling was steady on Monday and traders said they expected the currency to trade in a narrow range in coming days.

Activity is not expected to pick up until next week when businesses fully reopen after the festive break.

At 0720 GMT, commercial banks quoted the shilling at 102.15/35 to the dollar, compared with a close of 102.20/30 on Thursday, the previous day the currency traded.

"It's very quiet. Most people are still on leave. Activity should pick up aggressively next week," a senior trader at one commercial bank said.

A second trader said the shilling - which fell 11 per cent to the dollar during 2015 - was expected to trade in the 102.00 to 102.50 range in coming days.

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