The shilling has held steady with the local currency supported by dollars inflows to be used for purchase of Kenya’s high-yielding government debt.
At 10.10 am yesterday, commercial banks posted the shilling at 103.20/30 to the dollar, unchanged from Wednesday’s close.

“Demand and supply are equally matched this morning,” said a trader at one Nairobi-based commercial bank.  The Central Bank said it planned to mop up Kshs.10 billion in excess liquidity from the money markets.
The bank uses the term auction deposits and repurchase agreements to absorb the liquidity, which makes it costlier for banks to hold dollars and helps to support the shilling.

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