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Foreign Exchange Reserves. The CBK’s usable foreign exchange reserves remained adequate at USD 7,807 million (4.80 months of import cover). This meets CBK’s statutory requirement to endeavor to maintain at least 4.0-months of import cover, and the EAC region’s convergence criteria of 4.5-months of import cover.
During the month, the CBK’s usable foreign reserves declined by 2.53% to stand at USD 7.75 billion(4.76 months of import cover). However, this meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover.
Performance review for the third quarter of 2020. The average return achieved by the 383 pension schemes with a total fund value of about Kshs. 768 Billion participating in the survey was 4.2% compared to 2.5% in the previous quarter. The positive return can mainly be attributed to high returns in the equity and offshore asset classes.