NAIROBI (Reuters) – The Kenyan shilling was broadly steady against the dollar on Wednesday as the interbank market helped smooth out an underlying shortage of foreign currency, traders said.
At 0836 GMT, commercial banks quoted the shilling at 136.65/85 per dollar, compared with 136.60/80 at Tuesday’s close.
The shilling has lost more than 20% against the dollar in the last two years, touching a new all-time low of 136.70/90 per dollar on Tuesday, Refinitiv data showed.
“It’s pretty stable and we’re not seeing the usual depreciation. We are seeing some volumes through the interbank (market) which is helping clients across the board,” said one trader at a commercial bank.
(Reporting by Hereward Holland; Editing by Alexander Winning)
