ADVERTISEMENT

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.

A currency dealer counts Kenya shillings at a money exchange counter in Nairobi October 23, 2008.  REUTERS/Antony Njuguna

Kenya's shilling was steady but could face pressure from extra shilling liquidity that has been pushing down overnight lending rates, traders said.

"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!

Unblock notifications in browser settings.
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

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

170 electrical vandalism cases in 2 years, 100 charged to court - EEDC

Tinubu appoints Bello as chairman of code of conduct bureau

Tinubu appoints Bello as chairman of code of conduct bureau

Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics

Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Wike thanks Tinubu for the opportunity to serve

Wike thanks Tinubu for the opportunity to serve

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

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?

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

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

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

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

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

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT