Central bank at kenya

sunandaC

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The rate at which banks borrow from Central Bank of Kenya (CBK’s) emergency window shot up to 13.87 per cent yesterday, indicating tightening liquidity as the regulator moves to stabilise the weakening shilling.

Bankers said that the rise in the CBK discount overnight window would force them to borrow from their peers, an outcome that is expected to stabilise the shilling by denying the lenders access to cheap speculative funds.

On Tuesday the shilling traded at 92.65/85 to the dollar, slightly weaker than Monday’s close of 92.60/80.
 
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