Sarova Taita Hills Easter banner


THE MOST FROM THE COAST !

..


 Coastweek website


XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenyan banks up cash trading to pay taxes 

NAIROBI (Xinhua) -- Kenyan banks borrowed more from each other this week as they sought funds to remit taxes amid a rise in spending by the government, the Central Bank of Kenya (CBK) said on Saturday.

The average volumes traded between the banks increased to 179 million U.S. dollars in the week, from 90 million dollars the previous week.

“Activities in the interbank market increased partly reflecting the seasonal pickup in demand for funds to facilitate value added tax remittances,” noted the apex bank.

However, the weighted average interbank rate declined to 6.07 percent from 6.99 percent.

The central bank attributed the decline to lower interest rates trading by some banks, especially the bigger ones.  

             

 

Remember: you read it first at coastweek.com !


BestWestern Swiss Cottage Hotel London | Coastweek

 

TO ADVERTISE ON THIS WEB SITE:  www.coastweek.com
Please contact

MOMBASA - GULSHAN JIVRAJ, Mobile: 0722 775164 Tel: (+254) (41) 2230130 /
Wireless: 020 3549187 e-mail: info@coastweek.com

NAIROBI - ANJUM H. ASODIA, Mobile: 0733 775446 Tel: (+254) (020) 3744459
e-mail: anjum@asodia.co.ke

 
    © Coastweek Newspapers Limited               Tel: (+254) (41) 2230130  |  Wireless: 020 3549187  |  E-mail: info@coastweek.com