NAIROBI Aug 26 Kenya's central bank sought to
inject 30 billion shillings (338.41 million US dollar) into the
market on Tuesday after a liquidity crunch sent overnight
lending rates higher.
Overnight borrowing rates on the interbank market hit a high
of 15.50 percent on Monday, above the central bank's discount
window of 14.50 percent.
The weighted average interbank lending rate rose to 13.8391
percent from 13.4508 on Friday. It was about 7.5 percent in
mid-July. The bank said it was seeking to inject the money into
the markets through a reverse repurchase agreement (reverse
(1 US dollar = 88.6500 Kenyan shilling)
(Reporting by Drazen Jorgic; Editing by Duncan Miriri)