June 9, 2014 / 8:27 AM / in 3 years

Kenya central bank seeks to mop up 6 bln shillings

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NAIROBI, June 9 (Reuters) - Kenya's central bank sought to drain 6 billion shillings ($69 million) of excess liquidity from the money market on Monday by using repurchase agreements.

The bank has regularly absorbed excess liquidity in the money market since last year, which has lent support to the shilling by making it more expensive for banks to hold long dollar positions. ($1 = 87.4500 Kenyan Shillings) (Writing by Edmund Blair; Editing by Hugh Lawson)

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