Kenyan Shilling stable, expected to ease due to increased demand from importers

The Kenyan shilling was stable on Tuesday and traders said it was expected to weaken on increased demand for dollars from general merchandise importers. At 07:38 GMT, commercial banks quoted the shilling at 120.15/35 to the dollar, down from 120.10/30 on Monday at the close.

Traders said Monday’s court ruling confirming President-elect William Ruto’s election victory meant trading in the shilling was now entirely driven by supply and demand fundamentals.

“We expect the shilling to stop depreciating, now that the (political) uncertainty has gone with the general election. We should see some stability, even if the shilling doesn’t appreciate,” said one. merchant of a commercial bank. ………………Shilling spot rate …………….. .Shilling forward rate … ………………..Cross Rates ………………… ……. ……Local contributors …………………..Central Bank of Kenya Index ……. ….. ………Kenya Bond Contributor Pages …………..Treasury Bill Yields …………… . …Central bank open market operations ……………..Horizontal repurchase transactions , ………… . …Daily interbank lending rate ………………Kenya Bond pricing ………… ……….. …………NSE-20 Stock Index …………………. ………. .NSE-25 Equity Index …………………………….NSE All Share Index ….. …………. FT NSE Kenya Index 15 …………… ……….. FT NSE Kenya SPEED GUIDES 25 Index: (Reporting by George Obulutsa; Editing by Aaron Ross)