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Kenya shilling weakens, central bank eyed
January 22, 2015 / 8:42 AM / 3 years ago

Kenya shilling weakens, central bank eyed

NAIROBI, Jan 22 (Reuters) - The Kenyan shilling edged
down against the dollar on Thursday and traders said the central
bank was likely to inject dollars into the market to stem
further losses.
    At 0750 GMT, commercial banks posted the shilling at
91.80/90 per dollar, slightly down from the previous day's close
of 91.70/80.
    The shilling last traded at these levels in November 2011.
    "The pressure is coming from a build-up of (dollar) demand
and right now the supply side is quite wanting... tourism is
muted and that is quite a challenge," said Chris Muiga, trader
at National Bank.
    Hard currency inflows from the tourism business fell last
year after a series of gun and grenade attacks, blamed on
Islamists from neighbouring Somalia, scared off tourists.
    Traders said the shilling was likely to keep weakening as
importers buy dollars to pay their end month bills. The central
bank was however likely to intervene, through sale of dollars,
if the currency fell to 92.00, they added.
    The central bank pumped in an unspecified amount of dollars
into the market on Tuesday after the shilling fell.
               ...........................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
  SPEED GUIDES:
                                    
            
 
 (Reporting by Duncan Miriri; Editing by James Macharia)

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