NAIROBI, Sept. 12– Kenya’s foreign exchange reserves rose by about 370 million U.S. dollars to 15.25 billion dollars on Sept. 10, rebounding after three consecutive weeks of decline, according to the Central Bank of Kenya.
The reserves, up from 14.88 billion dollars on Sept. 3, now cover 6.3 months of imports, compared with 6.1 months a week earlier, the central bank said in its weekly bulletin released Friday. That remains above its statutory requirement to maintain at least four months of import cover.
The latest level is still short of the all-time high of 15.4 billion dollars reached in late July, when proceeds from the government’s partial divestiture of telecom operator Safaricom flowed into the reserves.
According to central bank data, the shilling traded at an average of 129.44 against the dollar this week, up slightly from 129.47 the previous week. (Namibia Daily News / Xinhua)
