Kenya Shilling, Forex Reserves Stable as EPRA's Price Review Coincide With Rise in Global Oil Prices
==========
The Central Bank of Kenya (CBK) released its weekly bulletin, highlighting stable values of the Kenyan currency against major international and local currencies. The Kenyan shilling showed a slight gain against the US dollar, exchanging at KSh 130.39 per USD on April 11 compared to KSh 131.17 per USD on April 4. EPRA, the Energy and Petroleum Regulatory Authority, is set to announce new fuel prices on April 14, which coincides with a rise in international oil prices. The CBK reported that international oil prices increased during the week ending April 11, mainly reflecting heightened geopolitical risks. The rise in global fuel prices is expected to start affecting Kenya's economy in May and June 2024. However, Kenyan motorists will enjoy a sustained drop in pump prices in April due to the continued strength of the shilling against the US dollar. The government-to-government oil deal, which benefits Kenyans, is scheduled to expire in December 2024.
#KenyaShilling #ForexReserves #Epra #FuelPrices #GlobalOilPrices
https://www.tuko.co.ke/business-economy/economy/544770-kenya-shilling-holds-dollars-global-oil-prices-rise-days-epras-april-review/
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2024-04-14 05:45:16
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2024-04-14 05:45:16Event JSON
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"content": "Kenya Shilling, Forex Reserves Stable as EPRA's Price Review Coincide With Rise in Global Oil Prices\n==========\n\nThe Central Bank of Kenya (CBK) released its weekly bulletin, highlighting stable values of the Kenyan currency against major international and local currencies. The Kenyan shilling showed a slight gain against the US dollar, exchanging at KSh 130.39 per USD on April 11 compared to KSh 131.17 per USD on April 4. EPRA, the Energy and Petroleum Regulatory Authority, is set to announce new fuel prices on April 14, which coincides with a rise in international oil prices. The CBK reported that international oil prices increased during the week ending April 11, mainly reflecting heightened geopolitical risks. The rise in global fuel prices is expected to start affecting Kenya's economy in May and June 2024. However, Kenyan motorists will enjoy a sustained drop in pump prices in April due to the continued strength of the shilling against the US dollar. The government-to-government oil deal, which benefits Kenyans, is scheduled to expire in December 2024.\n\n#KenyaShilling #ForexReserves #Epra #FuelPrices #GlobalOilPrices\n\nhttps://www.tuko.co.ke/business-economy/economy/544770-kenya-shilling-holds-dollars-global-oil-prices-rise-days-epras-april-review/",
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