NAIROBI: Kenya's central bank said on Thursday it was seeking to mop up 7 billion shillings ($79 million) of excess liquidity, the sixth trading session in a row it has taken such action.
The central bank, which said it was offering term auction deposits (TADs) and repurchase agreements (repos), has regularly soaked up excess liquidity since last year. The action supports the shilling by making it more costly to hold dollars.