by Bedah Mengo
NAIROBI, May 26 (Xinhua) -- The Kenya shilling closed the week Friday unchanged at 103.3 against the U.S. dollar as demand from importers remained low.
However, analysts noted that the currency would be under intense pressure next week due to dollar demand from retail importers at the end of month.
On Friday, the Central Bank of Kenya (CBK) quoted the shilling at 103.3 against the dollar, from the previous day's 103.29.
On the other hand, commercial banks put the value of the shilling against the green-buck at between 103.25 and 103.45, with traders noting the shilling would face pressure next week.
As with the dollar, the shilling remained stable against East Africa Community currencies during the week, but weakened against the Sterling Pound and Euro, according to the CBK.
The Central Bank monetary policy committee will meet on Monday and its decision is highly anticipated as it would affect the shilling.
In its last meeting, the committee kept its benchmark interest rate unchanged at 10 percent, and it is expected to retain it for the fourth time in a row to avoid affecting the money markets.
The CBK rate is used in the calculation of capped commercial bank rates, which currently stand at 14 percent.
