Kenya cbank says in repo market to mop up 15 bln shillings

NAIROBI Wed Nov 14, 2012 4:02am EST

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NAIROBI Nov 14 (Reuters) - Kenya's central bank on Wednesday sought to mop up 15 billion shillings ($175.54 million) in excess liquidity from the market via repurchase agreements (repos).

The bank said it intended to drain 7 billion shillings through 7-day repos and 8 billion shillings via 14-day Term Auction Deposits (TAD).

Central bank has been using repos most of this year to take out liquidity and support the shilling which is 0.7 percent weaker than the dollar in the year-to-date. ($1 = 85.4500 Kenyan shillings) (Reporting by Beatrice Gachenge; Editing by Drazen Jorgic)

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