NAIROBI, Oct 5 (Reuters) - Kenya's central bank said on Friday it planned to absorb 7 billion shillings ($82.4 million) in excess liquidity from the money markets through repurchase agreements (repos).
The bank has persistently mopped up liquidity most of this year to support the shilling . The local currency has gained 0.3 percent against the dollar in the year-to-date.
The mop-ups have also helped the weighted average rate on money market to rise steadily to 9.05 percent on Thursday, from 8.94 a day before, and from 6.40 percent on Sept.10 ($1 = 84.8000 Kenyan shillings)
(Reporting by Beatrice Gachenge; Editing by George Obulutsa)
Keywords: KENYA MARKETS/REPO