Foreign currency reserves

Official foreign exchange reserves stood at Kshs. 7,913 million accounting for 4.78 months of import cover as at 16th April, 2020.

Sufficient foreign currency reserves are critical to the payment of the country’s imports from the world market as well as payment of debts to foreigner creditors by both public and private sectors. The CBK statutory requirement to maintain at least 4 months of import cover (Sec 26 of the CBK Act) while the EAC region’s convergence criteria is 4.5

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