Kenya’s forex reserves dropped by KSh 30 billion in the last week, leading to a slight depreciation of the shilling. Central Bank of Kenya under Kamau Thugge’s leadership highlighted monetary developments. Photo: CBK. Source: Facebook What’s the value of Kenya’s forex reserves? In its weekly bulletin highlighting recent monetary and financial developments released on Friday, April 11, the Central Bank of Kenya (CBK) revealed the value of foreign exchange reserves dropped from $9,936 million (KSh 1.29 trillion) to $9,729 million (KSh 1.26 trillion).
This means the current reserves are adequate for 4.4 months of import cover down from 5.1 months on Thursday, April 3. On Thursday, April 10, the shilling weakened slightly to trade at 129.67 per unit against the United States (US) dollar compared to 129.25 on Thursday, April 3. “The Kenya Shilling remained stable against major international and regional currencies during the week ending April 10. It exchanged at KSh 129.67 per US dollar on April 10, compared to KSh 129.25 on April 3. The usable foreign exchange reserves remained adequate at USD 9,729 million (4.4 months of import cover) as of April 10. This meets the CBK’s statutory requirement to endeavour to maintain at least four months of import cover,” CBK stated. What was the value of diaspora remittances in March? However, the regulator revealed the value of diaspora remittances in March 2025 increased by 3.7% compared to a similar period in March 2024.
According to CBK, remittance inflows increased from $407.8 million (KSh 52.91 billion) in March 2024 to $422.9 million (KSh 54.88 billion) in March 2025. “The cumulative inflows for the 12 months to March 2025 increased by 13.5% to $4,972 million (KSh 644.81 billion) compared to $4,380 million (KSh 567.77 billion) in a similar period in 2024,” CBK disclosed. CBK governor Kamau Thugge speaks at a past event. How the money market performed The week ending April 10 saw the money market stay liquid as operations on the open market continued. The excess reserves held by commercial banks totalled KSh 18.2 billion. The average interbank rate declined to 10.12 from 10.68 last week, while the average amount traded throughout the week rose to KSh 18.0 billion from KSh 6.8 billion. At the same time, the average number of interbank transactions grew to 33 from 14.
Why Donald Trump suspended tariffs Following a decline in global markets, US President Donald Trump paused tariffs on Kenya and over 70 other countries for three months.The Republican leader acknowledged that his tariffs caused market shocks. He had planned to use tariffs to restructure the world economy by forcing other countries to remove restrictions on US exports and mandating that firms set up shop in the US.
by Japhet Ruto
