Shilling steadies

Oct 17, 2004

The shilling held steady against the major currencies as demand and supply remained evenly matched thrugh the week, dealers said.

By Paul Busharizi

The shilling held steady against the major currencies as demand and supply remained evenly matched thrugh the week, dealers said.

The shilling was trading at sh1,720/35 to the dollar at the close of trading last week compared to the previous Friday’s sh1,725/35.

“The dollar dipped to sh1,718/30 before demand from oil companies pushed it back to sh1,720/35,” Barclays dealer Lucas Ochieng said.

“Supply came from NGOs and coffee receipts,” he said.

Market sentiment was for the shilling to hold steady.

The pound sterling was trading at sh3,100/200 compared to the previous week’s 3,050/150.

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