Tuesday, November 29, 2016

Forex reserves drop Sh39bn in November on dollar sales

The Central Bank of Kenya building in Nairobi. PHOTO | FILE
The Central Bank of Kenya building in Nairobi. PHOTO | FILE 
By CHARLES MWANIKI, cmwaniki@ke.nationmedia.com
In Summary
  • Kenya’s official foreign reserves now stand at $7.305 billion (Sh745.1 billion) compared to... $7.683 billion (Sh783.7 billion) at the end of October.
  • The decline in reserves means Kenya’s import cover has fallen to 4.8 months’ worth of goods and services, from 5.13 at the beginning of the month.

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