The Kenyan shilling has strengthened to its highest level in six months, reaching an exchange rate of 127.42 against the US dollar, as reported by the Central Bank of Kenya (CBK) on March 3, 2025.
This rally, marking a 1.4 percent gain from the previous week’s 129.23, is attributed to CBK’s interventions in the foreign exchange market.
The CBK has been actively buying dollars to bolster its reserves and manage market volatility, a shift from its earlier approach of limited intervention unless excessive fluctuations occurred.
Commercial banks reflected this trend, trading the shilling at 127.50/128.50 per dollar.
Also Read: Kenya Confident in Continued Shilling Stability Ahead of IMF’s $3.9 Billion Loan
The shilling’s appreciation is also supported by increased dollar inflows from agricultural exports, particularly tea, and diaspora remittances, which rose by 18 percent to $1.882 billion in the first five months of the fiscal year starting July 2024.
Additionally, Kenya’s foreign exchange reserves grew by $345 million to $8.185 billion, providing 4.23 months of import cover, further stabilizing the currency.
Analysts suggest the CBK may continue purchasing dollars to maintain reserves above the four-month import cover threshold, potentially sustaining the shilling’s strength into the first half of 2025, though global dollar strength could pose future challenges.
I was looking through some of your posts on this website and I conceive this site is rattling instructive! Keep on posting.
Thank you a bunch for sharing this with all folks you really know what you are talking approximately! Bookmarked. Kindly additionally talk over with my web site =). We may have a hyperlink change agreement between us!
Hello, Neat post. There’s an issue together with your site in web explorer, could check thisK IE still is the marketplace leader and a huge component to people will pass over your magnificent writing because of this problem.
WONDERFUL Post.thanks for share..extra wait .. …
I savor, cause I found exactly what I was taking a look for. You’ve ended my four day long hunt! God Bless you man. Have a great day. Bye
I?¦ve recently started a site, the information you offer on this web site has helped me greatly. Thanks for all of your time & work.
Great write-up, I am normal visitor of one?¦s site, maintain up the excellent operate, and It’s going to be a regular visitor for a lengthy time.
I am not really excellent with English but I find this real easygoing to understand.
Hey very cool web site!! Man .. Excellent .. Amazing .. I will bookmark your blog and take the feeds also…I am happy to find numerous useful info here in the post, we need develop more strategies in this regard, thanks for sharing. . . . . .
I must get across my admiration for your kind-heartedness in support of persons that should have help on that concern. Your real dedication to passing the solution up and down came to be exceedingly interesting and has usually allowed guys and women like me to realize their goals. Your own interesting useful information entails a lot a person like me and far more to my fellow workers. Thanks a lot; from each one of us.