By Agency Reporter

Monday, 6 Dec 2010

The Kenyan shilling eased slightly against the dollar on Friday, as commercial banks covered their short dollar positions ahead of the weekend, shrugging off a small blast in a Nairobi suburb.

At 0901 GMT, commercial banks quoted the local currency at 80.50/60 to the dollar, from Thursday‘s close of 80.45/55. ”It‘s slightly weaker from Friday because dealers are short-covering (their) positions ahead of the weekend,” said deputy head of treasury at Bank of Africa, Mr. Kennedy Butiko.

Traders said that so far, there was no reaction to reports of a blast that occurred on the predominantly Somali suburb of Eastleigh in Nairobi, killing a police officer.

”No. That wouldn‘t move the market at all,” said Butiko.

Source: Punch