Kenya’s shilling steady vs USD

Kenya’s shilling held steady against the dollar on Monday, trading at 128.50/129.50, unchanged from Friday’s close, according to LSEG data.

Traders remain cautious due to uncertainties around the national budget and an IMF disbursement.

After a strong rally earlier this year, the shilling has stabilised over the past month and has reacted little to recent nationwide protests, which prompted President William Ruto to cancel planned tax hikes and fire most of his cabinet.

Attribution: Reuters citing data