The Kenyan shilling has remained stable at 129.20/45, with expectations of potential gains due to inflows from the Diaspora. Traders are optimistic about the shilling’s future performance.
On Wednesday, the Kenyan shilling exhibited stability against the US dollar, maintaining a rate of 129.20/45 as reported by commercial banks, the same as the prior day’s closing. Analysts and traders anticipate that the shilling may appreciate in value shortly, primarily due to anticipated remittances from the Kenyan Diaspora. These projected inflows are expected to bolster the currency in the forthcoming days.
In summary, the Kenyan shilling has shown stability, with traders optimistic about its potential to strengthen. This outlook is largely fueled by expected monetary inflows from the Kenyan Diaspora, which may positively impact the currency’s value in the near future.
Original Source: www.marketscreener.com
