In Kenya Shilling steady, seen in a tight range

At 0650 GMT, commercial banks posted the shilling at 102.35/45, barely moved from Friday's closing rate of 102.30/40.

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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 on Monday and traders said it was likely to be stuck in a narrow band for the rest of the week.

At 0650 GMT, commercial banks posted the shilling at 102.35/45, barely moved from Friday's closing rate of 102.30/40.

"We remain in the 102.00-102.50 range for the week. I don't see anything that cause it to break the range for now," said a trader at a commercial bank.

The shilling has been stable this year mainly due to a well-matched supply and demand of dollars.

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