Foreign reserves held by commercial banks rose by $519 million (Sh53.6 billion) in the year to February 2017, indicating uncertainty over the shilling’s exchange rate.
Latest Treasury data contained in the economic and budgetary review for the quarter ending March 2017 shows the amount of foreign reserves held in banks by the end of February stood at $2.45 billion (Sh240 billion), compared to $1.94 billion (Sh197 billion) a year earlier.
