E.Africa currencies seen mixed vs dollar
NAIROBI, Nov 4 (Reuters) - The Kenyan shilling is seen holding steady against the dollar in the next week to Wednesday, the Tanzanian shilling is expected to weaken and the Ugandan unit is forecast to strengthen, traders said.
KENYA
Kenya's shilling KES= is expected to hold steady, with dollar inflows being matched by demand.
At 0952 GMT, commercial banks quoted the unit at 75.10/30 to the dollar, compared with 75.20/30 at last Wednesday's close.
Dealers said they expected it to trade in the 74.85-75.85 range against the dollar in the days ahead.
"We see flat trading. Central bank is supporting the dollar on one hand and inflows are matching. As long as central bank is in, I don't see much in terms of direction," said a senior dealer at one commercial bank.
The market would be watching the outcome of a meeting later this week between the International Criminal Court prosecutor and Kenyan leaders on how to try those suspected of involvement in last year's bloody post-election violence.
"I think what will trigger the shilling is the outcome of the meeting the ICC prosecutor will have with the Kenyan government," said Benson Kaburu, a senior dealer at Standard Chartered Bank. Continued...
