Corporate Demand For The Dollar Projected To Pick Up

DCurrency experts at Centenary Bank expect dollar demand to pick up in the near future as firms start unlocking their 2014 business strategies.

“We are anticipating corporate demand to return to normal levels gradually over the coming weeks and this will likely put the shilling under some limited pressure,” Daniel Sage Muganza Treasury Sales Manager, Centenary Bank said on Friday.

“Confidence in the local currency could also be shaken by a potential decline in inflows spurred by the conflict in neighboring South Sudan and a fall in yields on government securities,” he said.

On Thursday, the shilling remained stable against the greenback on the back of sluggish dollar demand from the corporate sector.

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