Kenyan Forex Reserves Drop

Sanyatti

Member
Kenyan Forex Reserves Drop

The Kenyan shilling has experienced a significant drop, breaching the regional reserves policy as per the Central Bank of Kenya (CBK). The forex reserves policy of the East Africa Community (EAC) specifies that a member country must possess at least four months' worth of forex reserves in terms of imports cover at any given time. Since Jan. 26, Kenya's reserves have fallen below the required levels. CBK's latest weekly bulletin reports that the country's current usable foreign exchange reserves have decreased to $6.6 billion from $6.9 billion in February, resulting in 3.69 months of import cover.
 
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