Nairobi, Jan. 14 -- Easier access to the interbank market by the Central Bank of Kenya (CBK) has greatly helped stabilise the liquidity of foreign exchange in the local market and supported a stable exchange rate, as witnessed over the past 18 months, a top commercial bank official has said.

The Kenyan shilling has stabilised in the range of 128 to 129 units to the US dollar for more than 16 months now.

Absa Bank Kenya's Director in charge of Global Markets, Stella Mambo, said that the CBK's interventions in reforming the interbank market, starting mid-2023, have significantly aided in deepening liquidity in the market as well as boosting the flow of funds between parties.

The CBK on August 9, 2023, introduced an interbank interest rat...