Kenya's shilling was stable on Tuesday and traders said it could strengthen in the days ahead, helped by dollar inflows from non-governmental organisations.
Shilling steady, seen gaining on NGO dollar sales
At 0656 GMT, commercial banks quoted the shilling at 102.15/20 to the dollar, compared with Monday's close of 102.20/30.
"Maybe when inflows improve, we will see it gaining. I have seen some big NGOs (non-governmental organisations) making enquiries. But for now we are locked, range-bound trade," a trader at one commercial bank said.
Traders said they forecast the shilling to trade in the 102.20-102.35 range against the dollar in the next few days.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Adeleke wants residents to fish out water pipeline vandals round the clock
APC uncover how Kano govt mobilises protest against Ganduje in Abuja
Governor Mbah swears in new ENSIEC officials, stresses on credible service
New minimum wage announcement on May Day not feasible - TUC president
Yahaya Bello: School writes EFCC to refund $760k fees paid for ex-Kogi gov's children
Cross River Govt to compensate Calabar/Itu property owners with ₦400m
Tinubu is not afraid to make tough decisions even if they bring hardship
Anambra Govt to distribute new malaria vaccine, aims for malaria-free State
Commuters trek to work - Fuel hike halts Kaduna motorcyclists services
ADVERTISEMENT