Inflows of dollars ahead of government securities auctions propped up the Kenyan shilling against the dollar on Tuesday, helping to offset greenback demand from exporters.
At 0742 GMT, commercial banks quoted the shilling at 82.65/85 against the dollar, barely changed from Monday's close
"There is some end-month dollar demand which is evenly matched by the good flows from the debt market. That's why we're
stuck at this level," said Sameer Lagadia, head of trading at Diamond Trust Bank.
"We still have a lot of dollar supply coming through from bond buyers and interbank selling. The shilling will remain bullish despite the lack of tea inflows," Lagadia said.