Kenya's Forex Reserves Plummet by $221M in One Week Amid Stable Shilling

Kenya's foreign exchange reserves have seen a sharp decline in recent weeks. According to data from the Central Bank of Kenya (CBK), the country's reserve dropped by USD 221 million, equivalent to approximately KSh 28.61 billion, between August 20 and August 27, 2026.

The CBK reported that reserves stood at USD 15.155 billion (KSh 1.96 trillion) as of August 20, before sliding to USD 14.934 billion (KSh 1.93 trillion) by August 27, marking the latest in a series of consecutive weekly declines recorded since late July.

The downward trend stretches back to July 30, when reserves were recorded at USD 15.400 billion, equivalent to approximately KSh 1.99 trillion. By August 27, that figure had fallen to KSh 1.93 trillion, representing a cumulative drop of roughly KSh 60.32 billion over the four-week period.

The CBK noted that despite the sustained erosion of reserves, the Kenyan shilling remained largely stable against major international and regional currencies during the week ending August 27, 2026. The shilling exchanged at KSh 129.47 per US dollar on August 27, compared to KSh 129.49 per US dollar on August 20, a marginal movement that pointed to relative calm in the foreign exchange market.