May 19, 2017 / 9:34 AM / in 6 months

Kenya's central bank says in market to mop up 10 bln shillings

NAIROBI, May 19 (Reuters) - The central bank of Kenya said on Friday it planned to mop up 10 billion shillings ($96.90 million) in excess liquidity from the money markets.

The bank uses repurchase agreements and term auction deposits to remove excess liquidity, which makes it costly to hold on to dollars, which in turn supports the shilling. ($1 = 103.2000 Kenyan shillings) (Reporting by George Obulutsa; Editing by John Ndiso)

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