Kenya shilling vs US dollar in last six months
- According to the Central Bank of Kenya (CBK), the plunge of the Kenyan shilling has been so substantial that it has even breached the regional reserves policy.
- According to the Central Bank of Kenya (CBK), the plunge of the Kenyan shilling has been so substantial that it has even breached the regional reserves policy.
- Kenyan currency has been plummeting against major global currencies.
- According to the Central Bank of Kenya (CBK), the plunge of the Kenyan shilling has been so substantial that it has even breached the regional reserves policy.
- As of May, the shilling was trading at 137.24. But in November it was trading at 151.92.
The regional reserves policy is a policy that requires member countries of the East African Community (EAC) to maintain a minimum level of foreign exchange reserves1. The policy was established to ensure that member countries have sufficient foreign exchange reserves to support their economies and maintain financial stability. The policy is enforced by the East African Monetary Institute (EAMI), which monitors the foreign exchange reserves of member countries and provides guidance on how to maintain the required levels.
In the case of Kenya, the Central Bank of Kenya (CBK) has reported that the plunge of the Kenyan shilling has been so substantial that it has even breached the regional reserves policy1. This means that Kenya’s foreign exchange reserves have fallen below the required minimum level, which could have negative implications for the country’s economy and financial stability.
