Kenya's shilling was steady on Wednesday but traders said it was likely to strengthen, helped by expected dollar inflows from non-governmental organisations and tea and flower exporters.
Shilling steady, seen gaining on agriculture exporter inflows
At 0716 GMT, commercial banks quoted the shilling at 101.75/85 to the dollar, the same as Tuesday's close.
A fuel attendant handles Kenyan shilling notes at a petrol station in the capital Nairobi March 15, 2011. REUTERS/Noor Khamis
"Outlook is for a stronger shilling until we see a pick-up in end-of-month demand if it comes in," said a senior trader at one commercial bank.
The trader said the shilling was also benefiting from low oil prices, which had translated into a lower import bill.
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