The Kenyan shilling was unchanged on Wednesday and traders said it would be hemmed in a tight range due to expectations of intervention by the central bank.
Shilling stuck in a tight band
At 0617 GMT, commercial banks posted the shilling at 101.40/50 per dollar
A fuel attendant handles Kenyan shilling notes at a petrol station in the capital Nairobi March 15, 2011. REUTERS/Noor Khamis
At 0617 GMT, commercial banks posted the shilling at 101.40/50 per dollar, unchanged from the previous day's close.
Traders said it touched 101.60/70 in the previous session.
They said the shilling would likely stay in a 101.30-102.00 range as they expected the central bank to sell dollars if it weakened beyond that level.
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