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Markets

Kenya's central bank stays out of forex market

Published Updated

NAIROBI: Central Bank of Kenya (CBK) said it was staying out of the foreign exchange market on Tuesday as the local currency pared losses from earlier in the day when it hit a new record low.

"CBK is staying out the market today," central bank said in a notice. At 0840GMT leading commercial banks quoted the shilling at 86.00/10 compared with Monday's close of 86.15/25.

Copyright Reuters, 2011

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