The Kenyan shilling was little changed on Friday while the main share index edged down as it felt the effects of the emerging-market sell-off.
Market participants said the shilling was likely to be hemmed into a tight band of 85.80-86.30 until importers started to order more dollars.
"There is pretty weak demand and everybody is looking for lower levels to start putting in their hedges," said a trader with a leading commercial bank.
In the stock market, the benchmark NSE-20 share index slipped by a quarter of a percentage point to close at 4,831.80 points, mainly because of losses in national carrier
Shares in both fell by almost a percentage point to close at Sh11.85 each. Retailer
Market participants blamed the decline on the recent sell-off in emerging markets.
Attention may shift next week to local factors like corporate earnings, they said.
"We are expecting it to normalise. The effect of the emerging-market selloff will have levelled out," said Daniel Kuyoh, a research analyst at
In the debt market, bonds worth Sh1.05 billion were traded during the session, close to the volume of Sh1.06 billion worth of bonds traded in the previous session
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