Kenya's shilling steady, foreign investor inflows help

Kenya's shilling was firm in early trading on Wednesday with foreign investor dollar inflows into the stock market providing some support after months of steady weakening. Traders said the naming of IMF adviser Patrick Ngugi Njoroge as the new central bank governor was encouraging, in part because it removed lingering uncertainty after the previous governor's term ended in March. By 0644 GMT, the shilling was quoted at 96.70/90, almost unchanged from Tuesday's close of 96.80/90.