During the month, the CBK’s usable foreign reserves declined by 2.09% to stand at USD 7.95 billion (4.88 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.
During the month, the CBK’s usable foreign reserves declined by 5.87% to stand at USD 8.12 billion (4.93 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.
During the month, the CBK’s usable foreign reserves declined by 3.75% to stand at USD 8.63 billion(5.23 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...
During the month of July, the CBK's usable foreign reserves surged to an 11-month high. This could be attributed to increased inflows from borrowed cash from international financiers and high export earnings...