Kenya’s official forex reserves have gone up by $921 million this year, boosted by proceeds of the government’s external borrowing even as debt repayments, market sales in support of the shilling and higher demand from importers continue to drain dollars.
The pile of dollars stood at $7.72 billion (Sh872 billion) in the first week of January, and had risen to $8.64 billion (Sh976.3 billion) by December 16, with a 2021 peak of $9.63 billion (Sh1.09 trillion) on September 9.
