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Kenya's cbank says in repo market to mop up $82 mln

Monday, 8 Oct 2012 | 5:19 AM ET

NAIROBI, Oct 8 (Reuters) - Kenya's central bank said on Monday it was in the repurchase agreements (repos) market to mop up 7 billion shillings ($82.4 million) in excess liquidity.

The central bank has been actively soaking up liquidity using repos most of this year, stabilising the shilling after a dramatic slide last year that caused the central bank to adopt a tight monetary policy stance.

The shilling is up 0.1 percent against the dollar in the year to date. ($1 = 84.9500 Kenyan shillings)

(Reporting by Kevin Mwanza; editing by George Obulutsa)

((nairobi.newsroom@reuters.com)(Tel: +254 20 2224717))

Keywords: KENYA MARKETS/REPO