The Kenyan shilling remains stable due to low demand for U.S. dollars from importers. On Thursday, it was quoted at 129.25/129.45, consistent with the previous day’s closing rate.
The Kenyan shilling, referred to with the symbol USDKES, demonstrated stability on Thursday, reflecting a consistent performance from the previous trading session. This stability is primarily attributed to a reduced demand for U.S. dollars among importers, as reported by market traders. As of 0802 GMT, commercial banks quoted the shilling at the same rate as the previous day, specifically 129.25/129.45.
The Kenyan shilling’s current stability suggests a resistance to fluctuations, largely due to low demand for dollars from importers. This trend is crucial for maintaining a steady economic environment in Kenya, reflecting the balance within the currency exchange market.
Original Source: www.tradingview.com
