Kenyan shilling stable; could ease due to central bank purchases

NAIROBI: The Kenyan shilling was unchanged on Friday and traders said it could lose ground due to central bank coming in to buy dollars.

At 0733 GMT, commercial banks quoted the shilling at 128.00/129.00 per dollar, the same as Thursday’s closing rate.

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The central bank says it only intervenes in the foreign exchange market to smooth out volatility in either direction and has no preferred rate for the shilling.