News

cbkThe Central Bank of Kenya (CBK) has been in the money markets greater part of this week seeking to mop up Ksh13 billion in excess liquidity.
The CBK uses repurchase and term auction deposits to soak up liquidity, making it costly to hold dollars and in turn giving the shilling support.


The shilling was unchanged against the dollar, with traders waiting to see if the CBK would step into the market to support the local currency by selling dollars.
By 10:40 am on Wednesday, Commercial banks quoted the shilling at 104.25/35 to the dollar, unchanged from Tuesday’s close.
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