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Kenyan cbank says in repo market to mop up $77 mln

Wednesday, 10 Oct 2012 | 5:21 AM ET

NAIROBI, Oct 10 (Reuters) - Kenya's central bank said on Wednesday it was in the repurchase agreements (repo) market to mop up 6.5 billion shillings ($76.5 million) in excess liquidity.

The bank's continued liquidity soak-up activity has helped the shilling to stabilise against the dollar, which slid sharply in 2011 as inflation soared to a peak of 20 percent and the central bank responded slowly. ($1 = 85.0000 Kenyan shillings)

(Reporting by Kevin Mwanza; Editing by George Obulutsa)

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

Keywords: KENYA MARKETS/REPO