Kenyan shilling steady against the dollar

Kenyan shilling steady against the dollar

The Kenyan shilling was little changed against the dollar on Friday, with the prospect of fresh Central Bank interventions offsetting investor aversion to volatile emerging market currencies.

Commercial Banks posted the shilling at 102.25/35 per dollar, barely changed from the previous day’s close of 102.20/30.

“The market is a bit flat,” said a trader with a commercial bank.

He added the Central Bank’s efforts to protect the 102.50 level has helped the local currency offset risk aversion in global markets, especially in regards to African currencies.

The shilling has been stable this year after weakening 11 percent last year. Other regional and sub-Saharan African currencies fared much worse in 2015.