News

The Central Bank of Kenya (CBK) offered Kshs.16 billion into the money markets using reverse repurchase agreements.
Traders yesterday said the reverse repo offerings help to ensure that smaller banks have access to shilling liquidity which the CBK has said tends to be skewed towards larger lenders in the Kenyan market.


The shilling inched a tad lower yesterday, a day after the CBK kept its benchmark lending rate unchanged, said the traders. By 10.15 am, the shilling was quoted at 102.20/30 to the dollar, compared to Tuesday’s close of 102.10/30.
“It is flat – the same as the past few days”, said one Nairobi – based trader. A second trader said the local currency was expected to remain steady over the next few days.
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