Kenya's forex reserves fall to 5-year low

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Kenya's forex reserves fall to 5-year low

STORY: Kenya's forex reserves fall to 5-year low DATELINE: Oct. 10, 2022 LENGTH: 00:01:21 LOCATION: Nairobi CATEGORY: ECONOMY SHOTLIST: 1. shot of the National Treasury of Kenya 2. various of banks in Kenya and banknotes 3. SOUNDBITE (English): PATRICK NJOROGE, Governor of the Central Bank Of Kenya 4. various of containers at the port STORYLINE: Kenya's foreign exchange reserves declined by 12.5 billion shillings (about 103 million U.S. dollars) this week to hit a five-year low as the shilling fell to the lowest level in history against the dollar, the Central Bank of Kenya said in its weekly update of the financial markets. The reserves fell from 7.42 billion dollars last week to 7.32 billion dollars, with the apex bank reported to have sold an unspecified amount of dollars to stabilize the local currency. During the week, the shilling fell to an all-time low of 120.82 against the dollar, the Central Bank said in its update released Friday evening. The shilling has declined 7 percent against the dollar

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