NAIROBI (Reuters) – Kenya’s shilling was stable on Monday, but traders said they expected it firm because of dollar inflows from non-governmental organisations, remittances and foreign investors buying government bonds on sale this month.
At 0658 GMT, the shilling traded at 129.00/129.40 per dollar, unchanged from Friday’s closing rate.
The government is selling two infrastructure bonds aimed at raising up to 70 billion shillings ($543 million) this month, with an auction due on Feb. 12.
($1 = 129.0000 Kenyan shillings)
(Reporting by George Obulutsa; Editing by Alexander Winning)
