March 26, 2020 / 7:01 AM / 2 months ago

Kenyan shilling strengthens due to slowing importer demand

    NAIROBI, March 26 (Reuters) - The Kenyan shilling
strengthened on Thursday due to receding dollar demand from
retailers and manufacturers amid slowing economic activity due
to the new coronavirus outbreak, traders said. 
    At 0627 GMT, commercial banks quoted the shilling at
105.80/106.00 per dollar, compared with 106.20/40 at Wednesday's
close. 
    "They have been importing mostly from china but there is
little to import with this slow down," said a senior foreign
exchange trader from one commercial bank. 
    Kenya has 28 confirmed cases of coronavirus and announced on
Wednesday a raft of tax cuts to cushion its citizens against the
resulting economic slowdown from other measures including
banning public gatherings and a daily curfew starting on Friday
to curb the virus' spread.
               ...........................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
          .................................NSE-20 Share Index
          .................................NSE-25 Share Index
         .................................NSE All Share Index
             ...........................FT NSE Kenya 15 Index
             .......................... FT NSE Kenya 25 Index
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 (Reporting by George Obulutsa)
  
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