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Central bank to mop up KES 20B in liquidity

15 September 2014, 19:01

Nairobi - Kenya's central bank said on Monday it was seeking to mop up 20 billion shillings ($224.77 million) of excess liquidity in term auction deposits (TADs) and repurchase agreements (repos).

Read also: Government keen on expanding tea, coffee markets

The central bank has regularly soaked up excess liquidity since last year, and this is the eighth 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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- Reuters


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