Kenyan Shilling Maintains Stability Amid Low Dollar Demand

The Kenyan shilling remains stable amidst low dollar demand from importers, maintaining an exchange rate of 129.25/129.45.

The Kenyan shilling has demonstrated stability, maintaining its value due to low demand for the United States dollar. On Thursday, its exchange rate remained unchanged as importers exhibited subdued dollar demand. According to traders, this stability is reflected in commercial banks quoting the shilling at 129.25/129.45, which mirrors the level recorded at Wednesday’s close.

In summary, the Kenyan shilling’s stability is attributed to the diminished demand for the dollar from importers. This consistency in exchange rates plays a critical role in maintaining a balanced economic environment.

Original Source: www.tradingview.com