Shilling firm against dollar on tight liquidity
Kenyan Shillings: stack of 10 x 10 x 1,000 notes; the highest denomination in Kenya, total 100,000 shillings, or “bob” in Kenyan slang. the first president kenyatta can be seen on the notes. [Photo/Courtesy]
The shilling was firm against the dollar on Tuesday due to tightening liquidity in the local money markets increasing demand for the shilling, traders said. In early trading, commercial banks quoted the shilling at 100.30/50 per dollar, compared with 100.35/55 at Tuesday’s close.
The weighted average daily interbank lending rate stood at 7.5204 percent on Monday, up from 6.4527 per cent during the previous session.