Business & Finance

Kenya central bank seeks to mop up 3.5bn shillings from market

Published April 8, 2013 Updated April 8, 2013 09:11am

1 min

By Shoaib Ur Rehman

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NAIROBI: The Central Bank of Kenya said on Monday it was in the market to mop up 3.5 billion shillings ($41.3 million) in excess liquidity using term auction deposits.

The bank has routinely hoovered up liquidity since last year to support the shilling by making it slightly more expensive to hold long dollar positions.

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