NAIROBI, Dec. 18 (Xinhua) -- Tight liquidity in Kenya's money market has pushed the rate at which commercial banks borrow from each other to a three-year high.

The interbank rate on Tuesday stood at 10.2 percent, more than double from the previous month's average of 5 percent, according to the Central Bank of Kenya.

"Liquidity conditions in the money market remain tight, partly due to banks' remittance of taxes," the central bank said.

The tight liquidity in the money market dented the buying of Treasury bills and bonds by commercial banks, which are the biggest lenders of the government. Enditem

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