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A lack of liquidity in Kenya’s money markets has sent the overnight interbank lending rate above the three-month Treasury bill yield and curbed demand for government securities at the weekly auction, traders said on Tuesday.
The weighted average interest on the interbank market for overnight lending jumped to 8.1052 percent a week ago, well above the 91-day Treasury bill’s yield, which stands at 7.611 percent. The overnight rate has remained above 8 percent.
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