Kenya's central bank sells dollars to boost shilling

NAIROBI: Kenya's central bank sold dollars on Monday after the shilling weakened to its lowest level since October 2011, traders said.

"Yes, the central bank was in the market," said one trader at a Nairobi-based commercial bank.

A second trader confirmed the bank had sold dollars.

Traders said the shilling had reached the 106.40 level, close to its four-year low, when the bank intervened.

The central bank said earlier on Monday it planned to mop up 14 billion shillings ($132.45 million) in excess liquidity from the money markets.