Print Edition - 2018-10-07  |  Money Digest

Kenya’s money market liquidity improves

NAIROBI

Oct 7, 2018-

The Kenyan money market recorded improved liquidity in the week ending October 3, pushing down the rate at which banks borrow from each other. The high liquidity was due to increased government payments that boosted circulation of cash in the economy, the Central Bank of Kenya (CBK) said in its weekly brief on Friday. As a result, the average interbank rate declined steadily to 4.2 percent on from a high of 6 percent at the start of the week, said the apex bank. The CBK noted that liquidity conditions had been tight at the beginning of the week on account of tax remittances by banks before improving to push the rate down. The interbank volumes

traded consequently decreased from 20.2 billion Kenyan shillings (about $202 million) on September 27 to 10.7 billion on October 3. (XINHUA)

Published: 07-10-2018 08:12

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