Bloomberg News

Kenyan Currency Reserves Declined to $3.98 Billion This Week

June 17, 2011

June 17 (Bloomberg) -- Kenya’s foreign-exchange reserves fell to $3.98 billion this week from $4 billion last week, the Central Bank of Kenya said in its weekly bulletin.

Commercial lenders borrowed 56.4 billion shillings from the central bank’s overnight window in the week to June 15, compared with 30 billion shillings last week, “reflecting tight liquidity conditions in the money market,” the Nairobi-based bank said in an e-mailed statement today.

The average interbank rate in the period was 6.22 percent compared with 5.98 percent last week, it said.

To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net


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