Nairob – Kenya’s Central Bank said on Thursday it planned to mop up 18 billion shillings (176.38 million dollars) excess liquidity from the money markets.
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The bank uses repurchase agreements and term auction deposits to absorb the excess liquidity.
This exercise makes it expensive to hold on to dollars which in turn lends support to the shilling. (One dollar = 102.0500 Kenyan shillings) (Reuters/NAN)
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