Kenya's shilling was stable on Tuesday and traders said it could strengthen in the days ahead, helped by dollar inflows from non-governmental organisations.
Shilling steady, seen gaining on NGO dollar sales
At 0656 GMT, commercial banks quoted the shilling at 102.15/20 to the dollar, compared with Monday's close of 102.20/30.
A fuel attendant handles Kenyan shilling notes at a petrol station in the capital Nairobi March 15, 2011. REUTERS/Noor Khamis
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"Maybe when inflows improve, we will see it gaining. I have seen some big NGOs (non-governmental organisations) making enquiries. But for now we are locked, range-bound trade," a trader at one commercial bank said.
Traders said they forecast the shilling to trade in the 102.20-102.35 range against the dollar in the next few days.
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