RTRS:Kenyan shilling eases, tea exporter dollar sales eyed
NAIROBI (Reuters) - The Kenyan shilling fell slightly on Monday as importers looked to buy dollars, though tea exporters were expected to start selling the U.S. currency in coming days.
At 0709 GMT, commercial banks quoted the shilling down 0.1 percent at 84.95/85.15 per dollar from Friday's close.
"Below 85.00 shillings there is a bit of pent-up demand (for dollars), but tea inflows may come in from Tuesday," said Christopher Muiga, a senior trader at Kenya Commercial Bank.
Muiga said transaction by the central bank to mop up shillings had squeezed the short-term money market, which might lend further support to the local currency.
The central bank has used repurchase agreements for most of this year to stabilise the shilling, which slid sharply in 2011.
The shilling is up 0.2 percent against the dollar in the year to date.