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3 years ago
Kenya central bank says in market to mop up 4 bln shillings
March 14, 2014 / 8:33 AM / 3 years ago

Kenya central bank says in market to mop up 4 bln shillings

NAIROBI, March 14 (Reuters) - Kenya's central bank said on Friday it was in the money market to mop up 4 billion shillings ($46.25 million) in excess liquidity.

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

$1 = 86.4800 Kenyan Shillings Reporting by James Macharia; Editing by Richard Lough

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