NAIROBI, April 3 (Reuters) - The Kenyan shilling was stable against the dollar on Monday, shored up by increased
hard currency liquidity thanks to the revival of the
long-dormant interbank market, traders said.
Persistent unmatched foreign exchange demand from fuel
importers and the manufacturing industry has caused the shilling
to lose 7% of its value against the greenback this year,
according to Refinitiv data.
At 0859 GMT, commercial banks quoted the shilling at
132.55/75, compared to Friday's close of 132.50/70.
Last week the central bank governor said the restoration of
the interbank market had started to smooth out volatility in the
shilling's exchange rate.
"We are getting some liquidity from the interbank, which is
helping to stabilize things a bit," a trader at one commercial
bank said.
(Reporting by Hereward Holland)
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