Weekly Commentary – 20th May 2022

The CBK’s usable foreign exchange reserves remained adequate at USD 8,294 million (4.93 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.

Weekly Commentary – 13th May 2022

The CBK’s usable foreign exchange reserves remained adequate at USD 8,372 million (4.98 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.

Weekly Commentary – 6th May 2022

The CBK’s usable foreign exchange reserves remained adequate at USD 8,401 million (4.99 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.

Weekly Commentary – 29th April 2022

The Kenya National Bureau of Statistics indicated a rise in inflation from 5.56% in March to 6.47% in April on the back of high fuel prices, expensive foodstuff and other utilities during the month. This brings the rate to a seven months high since September 2021.

Weekly Commentary – 22nd April 2022

The CBK’s usable foreign exchange reserves remained adequate at USD 8,485 million (5.04 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.

Weekly Commentary – 14th April 2022

The CBK’s usable foreign exchange reserves remained adequate at USD 8,284 million (4.92 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.

Weekly Commentary – 8th April 2022

The CBK’s usable foreign exchange reserves remained adequate at USD 8,373 million (4.98 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.

Monthly Market Commentary – March 2022

During the month, major global markets were mixed as investors continue to monitor developments in the Russia-Ukraine crisis and the Covid-19 outbreak in China. In the USA, the S&P 500 and Dow Jones indices gained by 3.58% and 2.36% respectively from the previous month after the release of the jobs report showing an increase of 490 thousand jobs and the unemployment rate falling to 3.7% suggesting the Federal Reserve can continue to combat inflation without hurting the economy too severely. In Europe, the continental index of STOXX Europe 600 and UK’s FTSE 100 appreciated by 0.61% and 0.77% respectively.

Weekly Commentary – 25th March 2022

The CBK’s usable foreign exchange reserves remained adequate at USD 7,856 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.

Weekly Commentary – 18th March 2022

The CBK’s usable foreign exchange reserves remained adequate at USD 7,979 million (4.88 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.