NAIROBI, Nov 23 (Reuters) - The Kenyan shilling held
steady on Friday but traders said it was likely to weaken next
week due to end-month demand for dollars from importers.
At 0645 GMT, leading commercial banks posted the shilling at
85.70/80 per dollar, barely changed from Thursday's close of
85.65/85.
Robert Gatobu, a trader at Bank of Africa, said the shilling
was expected to weaken next week, also facing pressure from
commercial banks lowering their lending rates, which is expected
to spur demand for imported goods.
"It still looks bearish," Gatobu said.
Policymakers have cut official lending rates by 700 basis
points in three meetings since July, to 11 percent, prompting
commercial banks to ease the cost of credit.
