Shilling holds steadily

The shilling held steady against the dollar Tuesday’s trading session, on the back of liquidity tightening and a moderate demand for hard currency from importers. 

The shilling traded at 1590/1600 levels throughout the session.

The cash inter bank Money Markets overnight rates, traded slightly upward with a weighted average of 17.59 per cent as liquidity tightens further. 

The rates, however, dropped compared to the last week high of 20 per cent.
Source: NMB e-market, www.nmbtz.com
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