Kenya's shilling was steady but could face pressure from extra shilling liquidity that has been pushing down overnight lending rates, traders said.
Shilling steady, shilling liquidity may exert pressure
At 0730 GMT, commercial banks quoted the shilling at 102.15/25 to the dollar, unchanged from Thursday's close.
"We continue to see that market liquidity is high, which now makes the cost of funding lower. If you look at the overnight rates, they have continued to dip," said one trader.
The trader said investors were looking ahead to the central bank's Monetary Policy Committee meeting on Jan. 20 to see what would happen to the main lending rate, now set at 11.50 percent.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
You make bold decisions & live with consequences - Ondo Gov hails Tinubu at 72
170 electrical vandalism cases in 2 years, 100 charged to court - EEDC
Tinubu appoints Bello as chairman of code of conduct bureau
Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics
Lagos postpones eagerly anticipated Easter boat regatta indefinitely
Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister
Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping
Wike thanks Tinubu for the opportunity to serve
Barrister Bida pens special birthday prayer for President Tinubu, Nigerians
Pulse Sports
Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?
I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream
Michelle Alozie: I had to do it because of African referees
AC Milan star reveals he was named after Super Eagles legend Tijani Babangida
Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana
Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana
ADVERTISEMENT