NAIROBI, May 12 — The Kenyan interbank rate increased slightly this week reflecting a tighter liquidity in the market amid high activity.
The weighted average interbank rate rose to an average of 4.96 percent from 4.84 percent in the previous week, the Central Bank of Kenya said Saturday in a brief.
“Activity in the interbank market increased during the week. The volumes traded increased to an average of 155 million U.S. dollars compared to 148 million dollars in the previous week, partly reflecting tighter market conditions as a result of year-end tax remittances by banks,” said the apex bank.
The daily volumes traded ranged from 132 million dollars to 176 million dollars compared to 136 million dollars and 160 million dollars the previous week.
However, the number of deals in the interbank market was largely unchanged at 33 compared with an average of 34 in the previous week.