The Kenyan shilling was unchanged against the dollar on Monday as traders turned their attention to dividend payments by local firms, to their shareholders abroad, to determine potential demand for dollars.
Shilling holds steady, dividend payments eyed
At 0916 GMT, commercial banks posted the shilling at 101.15/25 per dollar.
Kenya shilling coins and notes are pictured inside a cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya
At 0916 GMT, commercial banks posted the shilling at 101.15/25 per dollar.
Local firms, especially banks with significant foreign shareholding, close their books from this week, meaning they will be buying dollars for dividends.
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