Kenya’s foreign exchange reserves have risen to $7.537 billion (Sh925.6 billion) after the International Monetary Fund (IMF) disbursed Sh81.7 billion last week, improving the country’s forex buffer amid increasing pressure on the local currency.
This was a jump of $462 million (Sh56.9 billion) and is enough to cover the country’s import needs for 4.22 months, the highest import-cover since September 22, a weekly bulletin by the Central Bank of Kenya (CBK) shows.
