Kenya central bank says seeks to mop up 15bn shillings

NAIROBI: Kenya's central banks sought to drain 15 billion Kenyan shillings ($170.75 million) of excess liquidity from the money market on Wednesday by using repurchase agreements and term auction deposits (TADS).

The bank has regularly soaked up excess liquidity from the money market since last year, which has lent support to the shilling by making it more expensive for banks to hold long dollar positions.