RTRS:Kenya's cbank sells dollars to support shilling
NAIROBI Jan 9 (Reuters) - Kenya's central bank sold an unspecified amount of dollars to commercial banks on Monday in an effort to stem a steep weakening of the shilling against the U.S. currency, traders said.
Central bank, keen on staying ahead of the curve with its hawkish monetary stance, has been mopping up liquidity through repurchase agreements and selling dollars directly to commercial banks since the year opened.
At 1043 GMT, commercial banks quoted the shilling at 87.00/20 to the dollar, from Friday's close of 86.90/87.10 and stronger than 87.70/90 before central bank came in. (Reporting by Kevin Mwanza; Editing by George Obulutsa)
