NAIROBI: Central Bank of Kenya said on Monday it was in the market to mop up 17 billion shillings ($202.86 million) in excess liquidity using repurchase agreements (repo) and term auction deposits.
The bank said it had received bids worth a total 21.2 billion shillings for both the seven-day repo and 14-day term auction deposits. It accepted a total 17 billion shillings, with the repo's weighted average yield at 7.567 percent, and that of the term auction deposit at 7.783 percent.
The bank has actively absorbed up liquidity since last year to support the shilling by making it slightly more expensive to fund long dollar positions.
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