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Kenya shilling

unchanged vs $

NAIROBI: The Kenyan shilling was on average unchanged against the dollar on Thursday despite large exporter inflows flooding the market.

The Central Bank of Kenya posted a shilling commercial mean of 58.385 versus the dollar, unchanged from Wednesday. Against the pound, it posted an average of 88.245 compared to 88.07 on Wednesday. Central bank forex trade averages are compiled from means of nine major commercial banks.

One commercial dealer saw the shilling edging firmer.

"Large exporter inflows continued to flood the market thus the Kenyan shilling registered some marginal gains versus the dollar. From an opening level of 58.38/42 per dollar, the shilling closed at 58.38/40", the commercial dealer said.

"Demand from the oil sector stemmed further gains on the local unit. As the near term direction for the shilling is bullish we see greater exporter inflows. The anticipated range is 58.35/40", the commercial dealer added.

Market liquidity was unchanged in the interbank money market and hence the rates were still at the 6-8 percent levels, another dealer said.-Reuter