The shilling held steady yesterday, but the outlook remained bearish as importers stocked up on dollars ahead of national elections in March. Commercial banks quoted the shilling at 87.55/65 to the dollar at 0724 GMT, barely changed from Tuesday close of 87.50/70. It is down 1.7 percent to the dollar this year and touched a new one-year low of 87.80/88.00 on Tuesday. "Sentiment are still for a weaker shilling. Clients are hedging due to pre-election jitters," said Duncan Kinuthia, head of trading at Commercial Bank of Africa. "They are trying to cover their requirements for March right now...
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