In a hurry? Here’s a quick summary…
- The Kenyan shilling held steady at 128.50/129.50 against the US dollar on Friday, unchanged from Thursday’s closing rate.
- A foreign exchange trader predicts the shilling will likely remain at this level in the coming week.
The Kenyan shilling remained steady against the US dollar on Friday, maintaining its position at 128.50/129.50 during early trading hours, according to LSEG data from 0700 GMT.
This rate mirrors Thursday’s closing figures, suggesting a stable trend in the foreign exchange market.
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One foreign exchange trader indicated that the shilling is likely to continue trading at these levels in the coming week, as it has consistently remained within the same range for several months. This stability may reflect a balance in supply and demand dynamics, as well as broader economic factors influencing the East African currency.