Central Bank moves to replace defaced banknotes in the market

The Central Bank of Kenya (CBK) has announced the introduction of new banknotes to replace defaced currency currently in circulation. According to Central Bank Governor Kamau Thugge, the new notes will be printed by a Germany-based money printer, following the exit of de la rue from the Kenyan market. Thugge who was speaking during the post monetary policy committee meeting also said that the central bank will be looking to inject funds into the banking system to ensure that the reduction in the base lending rate trickles down to the consumers.