Kenyan shilling firms against dollar on first 2019 trading

NAIROBI, Jan. 2 (Xinhua) -- The Kenyan shilling held firm against the U.S. dollar on Wednesday, the first day of trading in 2019, supported by low demand for the greenback.

The shilling traded to the dollar at 101.83 on Wednesday, compared to Monday's close of 101.84, according to the Central Bank of Kenya (CBK).

Analysts attributed the stability to low dollar demand as oil and retail importers will resume activities after the holiday break.

The local unit is expected to remain stable against the greenback backed by CBK's foreign exchange reserves as well as regulators' activities in the money market, analysts noted.

Official data showed that the Kenyan shilling ended 2018 1.4 percent higher against the dollar.