The Central Bank of Kenya (CBK) has grown its official forex reserves by $837 million (Sh108.1 billion) in the last five weeks after buying dollars from the market, taking advantage of a higher supply of the greenback from remittance and agriculture exports.
CBK Governor Kamau Thugge yesterday confirmed the dollar purchases, saying that the action was also taken to prevent volatility in the exchange rate, as a result of the increased supply of dollars in the market.
