NAIROBI: Kenya’s shilling was unchanged against the dollar on Monday, LSEG data showed.
At 1100 GMT, the shilling was trading at 128.50/129.50 per dollar, the same as its closing level on Friday.
Traders said last week that some market participants were likely to hold off from big bets because of uncertainty over the budget and an International Monetary Fund disbursement.
Kenya’s shilling weakens due to high dollar demand from importers
The shilling rallied strongly in the first half of the year as concerns eased that the East African country would default on a $2 billion Eurobond, before stabilising around its current level in the past month.
It has so far reacted relatively little to nationwide protests that prompted President William Ruto to abandon planned tax hikes and fire nearly his entire cabinet.
American Dollar Exchange Rate