Kenya's central bank says to mop up 12 bln shillings - CNBC Africa

Kenya's central bank says to mop up 12 bln shillings

East Africa

by Reuters 0

Kenya's central bank says to mop up 12 bln shillings. Photo: Flickr.

Kenya's central bank said on Thursday it planned to mop up 12 billion shillings ($119 million) in excess liquidity from the money markets.

The bank uses term auction deposits and repurchase agreements to absorb the liquidity, which makes it costly to hold dollars, which lends support to the shilling.

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