The Central Bank of Kenya (CBK) has registered a step-up in the mopping of the shilling from the market in a week that saw the unit touch a new low of Ksh.107.5 against the US dollar.

As part of its open market operations (OMOs), CBK was in the repo market during the week to source for Ksh.55 billion as the reserve bank sought to rein in high liquidity in the market.

On Friday, the CBK accepted Ksh.22.6 billion out of similar bids by dealers in government securities at an average rate of 3.508 percent.

Kenya Revenue Authority (KRA) tax collections for the year ended June 30 were Ksh.354.1 billion off their original target as the tax man again missed the mark in expected revenue mobilisation.

According to an analysis of the National Treasury statements on actual revenues and net exchequer issues, actual tax receipts stood at Ksh.1.453 trillion against an original estimate of Ksh.1.807 trillion.

The 3rd Research Week 2020 is scheduled for October 12 -16, 2020. The annual event, hosted by the University of Nairobi, will feature 13 different conferences covering a diverse range of academic disciplines and is expected to bring together over 1,000 participants comprising researchers, scholars, students and practitioners from all over the world.