Shilling steady, many businesses stay away before holiday

Kenya's shilling was firm on Monday in subdued trading with many market players staying out of the market as holidays approached.

By 0800 GMT, the shilling was quoted at 102.20/40 to the dollar, little changed from Friday's close of 102.25/35.

The shilling has lost more than 11 percent of its value this year but has strengthened from September levels when it almost reached an all-time low of 106.80. Since early November, it has stabilised, staying mostly in a range of 102.00 to 102.50.

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