New loan inflows bulk up foreign currency reserves

Kenya’s foreign currency reserves have progressively risen in the last four months to hit 5.30 months of import cover as at April 6 up from 5.11 on March 30 on the back of loan inflows and reduced imports.

Data from the CBK shows forex reserves stood at Sh829.8 billion ($8.26 billion) a week ago compared to Sh799.3 billion ($7.731) the previous week. However, at the end of the Good Friday week, there was a slight drop to $7.9 billion representing 5.6 month cover.