Kenya's central bank seeks to take Sh10 billion out of market
Business
By
Reuters
| Oct 07, 2015
The Kenyan central bank sought to mop up 10 billion shillings ($97 million) from the market on Wednesday.
The bank uses tools like repurchase agreements (repo) to reduce the amount of shillings in the financial system to keep the currency's exchange rate stable. Higher liquidity usually makes it cheaper for banks to bet against the shilling.
Share this story
- Flooded petrol stations to be shut
- Forget miraa: Discovery of minerals stirs up Meru locals
- Super-rich investors bet on Kenya amid economic gloom
- Hiring civil servants on contract will fuel corruption, experts say
- Kenyan retailers ready to pounce as Ethiopia to open up market