In Kenya Shilling holds steady, demand likely to pick up

At 1113 GMT, commercial banks quoted the shilling at 101.45/55 to the dollar, unchanged from Monday's closing rate.

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A teller counts Kenya shilling notes inside the cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya play A teller counts Kenya shilling notes inside the cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya
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The Kenyan shilling was stable on Tuesday and traders said demand for dollars by importers was likely to pick up as the month progresses.

At 1113 GMT, commercial banks quoted the shilling at 101.45/55 to the dollar, unchanged from Monday's closing rate. 

"Going forward past mid-month, we should see end month demand putting pressure on the shilling," said a currency trader with a commercial bank.

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