NAIROBI (Xinhua) --
The Kenyan shilling closed the week on
Friday stable against the U.S. dollar as the market
awaits a key Central Bank meeting next Monday for
unit traded unchanged at an average of 102.90 to the
dollar, the same level it stood on Thursday.
bank placed the shilling at 102.90, a negligible decline
from 102.89 in the Thursday trading.
On the other
hand, the East African nation’s commercial banks quoted
the Kenya shilling at between 102.90 and 103.10, similar
margins as those in the previous session.
traders attributed the stability of the currency to the
much-awaited rate-setting meeting which will be held on
Monday by the Central Bank’s Monetary Policy Committee.
according to analysts, would retain the benchmark rate
at 10 percent as inflation is under check at about 5
British pound, the shilling weakened on Friday to close
the week at 142.71 from 141.92 in the Thursday session.