Kenyan central bank says in the market to mop up 15bn shillings

NAIROBI: Kenya's central bank said on Tuesday it planned to mop up 15 billion shillings ($172.81 million) in excess liquidity from the money markets using repurchase agreements (repos).

By absorbing excess liquidity from the market, the central bank makes it more expensive to hold onto long dollar positions, which in turn helps strengthen the shilling.