{"id":15217,"date":"2020-09-30T20:14:40","date_gmt":"2020-09-30T20:14:40","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=15217"},"modified":"2020-09-30T20:14:40","modified_gmt":"2020-09-30T20:14:40","slug":"kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling","title":{"rendered":"Kenya&#8217;s forex reserves fall by Sh22.8 billion on loan payments, weaker shilling"},"content":{"rendered":"<p><strong>Author:\u00a0XINHUA\u00a0<\/strong><br \/>\n<strong>AfricaPress-Kenya:<\/strong> Kenya&#8217;s foreign exchange reserves have fallen by Sh22.8 billion (USD 212 million), a drop attributed to payment of interest on external debt and central bank bid to support the local currency amid rising import bill.<\/p>\n<p>The reserves fell from USD8.838 billion to USD8.627 billion last week, according to latest data issued on Monday by the\u00a0Central Bank of Kenya.<\/p>\n<p>The apex bank, however, said the forex reserves remain adequate, meeting its statutory requirements to endeavor to maintain at least four months of import cover, as well as the East Africa Community convergence criteria of 4.5 months of import cover.<\/p>\n<p>The CBK normally uses the reserves\u00a0to bolster the shilling,\u00a0which has been under pressure in the past few weeks, trading at a low of Sh108.50 to the dollar on Monday, down from Sh107.7 to the greenback in July.<\/p>\n<p>Imports into Kenya have been rising as countries reopen their economies and economic activities pick up in the east African nation, putting a strain on the shilling.<\/p>\n<p>Kenya&#8217;s external debt\u00a0now stands at USD36 billion, up from USD31 billion in January.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Author:\u00a0XINHUA\u00a0 AfricaPress-Kenya: Kenya&#8217;s foreign exchange reserves have fallen by Sh22.8 billion (USD 212 million), a drop attributed to payment of interest on external debt and central bank bid to support the local currency amid rising import bill. The reserves fell from USD8.838 billion to USD8.627 billion last week, according to latest data issued on Monday [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":15210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1155,2217,2887,2886,3688],"class_list":["post-15217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-cbk","tag-central-bank-of-kenya","tag-foreign-exchange","tag-forex","tag-loans"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kenya&#039;s forex reserves fall by Sh22.8 billion on loan payments, weaker shilling - kenya<\/title>\n<meta name=\"description\" content=\"Kenya&#039;s foreign exchange reserves have fallen by Sh22.8 billion (USD 212 million), a drop attributed to payment of interest on external\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kenya&#039;s forex reserves fall by Sh22.8 billion on loan payments, weaker shilling\" \/>\n<meta property=\"og:description\" content=\"Kenya&#039;s foreign exchange reserves have fallen by Sh22.8 billion (USD 212 million), a drop attributed to payment of interest on external\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-30T20:14:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/09\/kenyas_forex_reserv5f7430e4ce6ff.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"711\" \/>\n\t<meta property=\"og:image:height\" content=\"421\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Kenya&#8217;s forex reserves fall by Sh22.8 billion on loan payments, weaker shilling\",\"datePublished\":\"2020-09-30T20:14:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling\"},\"wordCount\":195,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/09\/kenyas_forex_reserv5f7430e4ce6ff.jpg\",\"keywords\":[\"CBK\",\"Central Bank of Kenya\",\"Foreign exchange\",\"Forex\",\"Loans\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kenyas-forex-reserves-fall-by-sh22-8-billion-on-loan-payments-weaker-shilling\",\"name\":\"Kenya's forex reserves fall by Sh22.8 billion on loan payments, weaker shilling - 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