May 30, 2014 / 2:32 PM / 3 years ago

UPDATE 1-Kenyan shilling steady as central bank eyed

* Shilling seen gaining as end-month dollar demand eases
    * Stocks end lower

 (Adds markets close, stocks, bonds)
    By George Obulutsa
    NAIROBI, May 30 (Reuters) - Kenya's shilling was
steady on Friday, holding just above a level at which traders
said they assumed the central bank might intervene, with gains
possible as month-end demand for dollars tapers off.
    At the 1300 GMT close of the market, commercial banks quoted
the shilling at 87.85/95 to the dollar, unchanged from
Thursday's close.
    Traders said market participants were reluctant to break the
88.00 barrier after the central bank intervened last Friday
following a breach of that level.
    "The market is beginning to assume that the central bank is
protecting a level," said Chris Muiga, senior trader at National
Bank of Kenya. "Unless there is a significant change in the
dynamics demand-wise, we will play a narrow range." 
    Traders said they expected the shilling, which has lost 1.3
percent against the dollar so far this year, to trade in the
87.30 to 88.00 range early next week. 
    On the stock market, the main NSE-20 Share Index lost 13.57
points, or 0.28 percent, to close at 4,881.56 points.
    Agricultural firm Sasini closed 4.5 percent down
at 15.90 shillings after reporting an 86 percent drop in first
half pretax profit and warning on full year profits on the back
of falling tea prices and a decline in coffee output.
 
    On the secondary debt market, government bonds valued at
1.08 billion shillings were traded, compared with Thursday's
1.32 billion.
    
 ...........................Shilling spot rates 
 .....................Shilling forward rates 
  .......................Cross rates 
..................................Local contributors 
.......................Central Bank of Kenya Index 
.....................Kenyan Bonds contributor pages 
  ...............Treasury bill yields 
..................Central bank open market operations 
.........................Horizontal repo transactions 
,................Daily interbank lending rate 
.............................Kenya Bond pricing 
..................Real time Africa economic data 
<ECI & AFR> ...........................African economic news
.................................NSE-20 Share Index
.................................NSE All Share Index
...........................FT NSE Kenya 15 Index
.......................... FT NSE Kenya 25 Index
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 (Editing by John Stonestreet)

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