Kenya Shilling Holds Steady Against US Dollar: CBK Cautious Not to Upset Balance
==========
The Kenyan shilling traded at KSh 131.17 per US dollar for the week ending April 4, maintaining stability compared to previous weeks. The Central Bank of Kenya (CBK) is cautious not to upset the balance in the supply and demand of the shilling, especially by increasing forex reserves. The inflow of US dollars from the recently issued Eurobond may have increased the supply of dollars in the market, reducing pressure on the shilling. The CBK's prudent management and positive economic indicators have bolstered investor confidence and attracted inflows of foreign capital. The usable foreign exchange reserves remained adequate at USD 7,148 million (3.8 months of import cover) as of April 4. The CBK is dealing with the laws of supply and demand and is taking a slow approach to shore up national reserves to maintain the balance between the demand and supply of the shilling and the dollar. The true value of the Kenya shilling lies between the current exchange rate and the historic low of KSh 160. The Kenya shilling has emerged as a top-performing currency globally, surpassing many counterparts.
#KenyaShilling #CentralBankOfKenya #ForexReserves #ExchangeRate
https://www.tuko.co.ke/business-economy/economy/543685-strong-kenya-shilling-spurs-economic-optimism-ceos-investors/
Tuko.co.ke /
npub15yg…zncw
2024-04-07 07:53:36
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npub15ygdhawp2prr6xlzleujfs0hy9g3yvzgzv6pj49afh5sf5q8tfcqdjzncwPublished at
2024-04-07 07:53:36Event JSON
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"content": "Kenya Shilling Holds Steady Against US Dollar: CBK Cautious Not to Upset Balance\n==========\n\nThe Kenyan shilling traded at KSh 131.17 per US dollar for the week ending April 4, maintaining stability compared to previous weeks. The Central Bank of Kenya (CBK) is cautious not to upset the balance in the supply and demand of the shilling, especially by increasing forex reserves. The inflow of US dollars from the recently issued Eurobond may have increased the supply of dollars in the market, reducing pressure on the shilling. The CBK's prudent management and positive economic indicators have bolstered investor confidence and attracted inflows of foreign capital. The usable foreign exchange reserves remained adequate at USD 7,148 million (3.8 months of import cover) as of April 4. The CBK is dealing with the laws of supply and demand and is taking a slow approach to shore up national reserves to maintain the balance between the demand and supply of the shilling and the dollar. The true value of the Kenya shilling lies between the current exchange rate and the historic low of KSh 160. The Kenya shilling has emerged as a top-performing currency globally, surpassing many counterparts.\n\n#KenyaShilling #CentralBankOfKenya #ForexReserves #ExchangeRate\n\nhttps://www.tuko.co.ke/business-economy/economy/543685-strong-kenya-shilling-spurs-economic-optimism-ceos-investors/",
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