In Kenya Shilling holds steady against the dollar

At 0720 GMT, commercial banks posted the shilling at 102.35/45, the same level it closed on Friday.

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A currency dealer counts Kenya shillings at a money exchange counter in Nairobi in a file photo. REUTERS/Antony Njuguna play A currency dealer counts Kenya shillings at a money exchange counter in Nairobi in a file photo. REUTERS/Antony Njuguna
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The Kenyan shilling was unchanged against the dollar on Monday and traders said activity was likely to remain subdued until the central bank sets rates on Wednesday.

At 0720 GMT, commercial banks posted the shilling at 102.35/45, the same level it closed on Friday.

"It is quiet as we await the MPC on Wednesday," said a trader at a commercial bank, referring to the central bank's Monetary Policy Committee.

The shilling fell less than many other emerging market currencies last year, weakening 11 percent against steeper falls in other currencies like the Ugandan shilling.

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