Cash outside banks drop Sh8.4 billion on lower spending

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A trader counting money. FILE PHOTO | NMG

The amount of cash circulating outside banks fell by Sh8.4 billion in January, reflecting reduced spending activity among Kenyans after the spike during the December festivities.

The cash had jumped to an all-time high of Sh253.5 billion in December, Central Bank of Kenya (CBK) data shows, before retreating to Sh245.1 billion in January.

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