NAIROBI, Sept 1 – Kenya’s interbank lending rate tumbled to 19.2515 percent on Tuesday from 27.7299 percent the previous day, central bank data showed on Thursday, as the bank’s action last week to bring down interbank rates filters through the market.Kenyan stocks hit a fresh 20-month low due to a weaker currency, high inflation and political concerns. The shilling slipped a third of a percent versus the dollar on the back of importer demand for the U.S. currency.
The central bank’s discount window lending rate fell again to 17.87 percent on Thursday from 20.17 percent on Tuesday, the bank said on its website. Wednesday was a public holiday.
Source: Reuters Africa newsletter
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