Kenya’s central bank seeks to mop up 7 billion shillings

Kenya’s central bank said on Wednesday it planned to mop up 7 billion shillings ($67.5 million) in excess liquidity from the money markets.

The bank uses repurchase agreements and term auction deposits to absorb the liquidity, which makes it expensive to hold onto dollars, which in turn supports the shilling.

($1 = 103.7000 Kenyan shillings)

-af.reuter