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CBK says seeking to mop up 15 bln shillings

04 June 2014, 08:04

Nairobi - The Central Bank of Kenya sought to drain 15 billion shillings ($170.94 million) of excess liquidity from the money market on Tuesday by using repurchase agreements and term auction deposits (TADS).

The bank has regularly soaked up excess liquidity from the money market since last year, which has lent support to the shilling by making it more expensive for banks to hold long dollar positions.

 - Reuters

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