NAIROBI: The Kenyan shilling was unchanged against the dollar on Monday, with traders saying activity was likely to remain subdued until the central bank sets its key lending rate on Wednesday. Shares fell.
At 1330 GMT, commercial banks posted the shilling at 102.35/45, the same level it closed on Friday. “There was not much movement today, no big tickets,” said a trader at a commercial bank. A second trader said the focus has shifted to the central bank’s rates decision on Wednesday.
The shilling fell less than many other emerging market currencies last year, weakening 11 percent against steeper falls in other currencies like the Ugandan shilling. On the Nairobi Securities Exchange, the main NSE-20 Share Index was down 14.68 points, or 0.4 percent, to close at 3,824.60 points.
