Kenya's Forex Reserves Hit $15.2 Billion Amid Stable Shilling

The Kenya Shilling has maintained its stability against major international and regional currencies. According to the Central Bank of Kenya's (CBK) Weekly Bulletin, the shilling traded at KSh129.49 per US dollar on August 20, compared to KSh129.40 on August 13.

The CBK reported that Kenya's foreign exchange reserves remained adequate, standing at USD 15.155 billion as of August 20, equivalent to 6.3 months of import cover. This is above the statutory requirement to maintain at least four months of import cover.

Meanwhile, the money market remained liquid during the week, with commercial banks' excess reserves averaging KSh45.9 billion above the 3.25 percent Cash Reserve Ratio requirement.