Kenyan central bank says in market to mop up 8bn shillings

NAIROBI: Kenya's central bank sought on Monday to mop up 8 billion shillings ($93.46 million) from the market through repurchase agreements (repos) and term auction deposits (TAD).

The bank said it was in the market seeking to hoover up 5.5 billion shillings in repos and 2.5 billion shillings in TADs.

The regulator has actively soaked up liquidity since last year to support the shilling, which is 0.6 stronger than the dollar so far this year, by making it more expensive to fund long dollar positions.