Shilling holds steady against dollar
Sep 11, 2005
THE shilling closed unchanged from last week’s rate as corporate dollar demand stayed away from the market, dealers said on Friday.
By Paul Busharizi
THE shilling closed unchanged from last week’s rate as corporate dollar demand stayed away from the market, dealers said on Friday.
The shilling was range bound during the week trading in the 1,825/45 range but closed the week at sh1,830/40 to the dollar on Friday the same as the previous week.
“We have seen very little activity of the corporate dollar demand side.
Some inflows have come in from NGOs and project funds,†Barclays chief dealer Moses Elungat said.
Dealers anticipate that corporate buyers will have to return to the market this week.
THE shilling closed unchanged from last week’s rate as corporate dollar demand stayed away from the market, dealers said on Friday.
The shilling was range bound during the week trading in the 1,825/45 range but closed the week at sh1,830/40 to the dollar on Friday the same as the previous week.
“We have seen very little activity of the corporate dollar demand side.
Some inflows have come in from NGOs and project funds,†Barclays chief dealer Moses Elungat said.
Dealers anticipate that corporate buyers will have to return to the market this week.