CBK says in market to mop up 10 bln shillings
17 September 2014, 12:03
Nairobi - Central Bank of Kenya said on Tuesday it was seeking to mop up 10 billion shillings ($112.49 million) of excess liquidity in term auction deposits (TADs) and repurchase agreements (repos).
The central bank has regularly soaked up excess liquidity since last year, and this is the ninth trading session in a row it has taken such action. Draining excess liquidity supports the shilling by making it more costly to hold dollars.
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