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Kenya central bank says in market to mop up 10 bln shillings
March 13, 2014 / 8:42 AM / 4 years ago

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

NAIROBI, March 13 (Reuters) - Kenya’s central bank said on Thursday it was in the money market to mop up 10 billion shillings ($115.67 million) in excess liquidity using repurchase agreements.

By mopping up liquidity, the bank makes it relatively costlier to hold onto long dollar positions, which in turn helps strengthen the shilling.

$1 = 86.4500 Kenyan shillings Reporting by James Macharia; Editing by George Obulutsa

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