Kenya’s central bank said on Monday it was seeking to mop up 20 billion shillings ($224.77 million) of excess liquidity in term auction deposits (TADs) and repurchase agreements (repos).
The central bank has regularly soaked up excess liquidity since last year, and this is the eighth trading session in a row it has taken such action. Draining excess liquidity supports the shilling by making it more costly to hold dollars.
