Kenya's forex reserves dip to new low, piling pressure on falling shilling

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Kenya's forex reserves dip to new low, piling pressure on falling shilling

STORY: Kenya's forex reserves dip to new low, piling pressure on falling shilling DATELINE: April 17, 2023 LENGTH: 00:01:26 LOCATION: Nairobi CATEGORY: ECONOMY SHOTLIST: 1. aerial view of the Nairobi CBD area 2. various of the central bank of Kenya 3. various of a teller counting banknotes 4. aerial view of the Nairobi CBD area 5. various of a teller counting banknotes 6. various of the central bank of Kenya 7. various of the national treasury head office STORYLINE: Kenya's foreign exchange reserves declined 9.42 billion shillings (about 70 million U.S. dollars) last week, piling pressure on the shilling that similarly fell to a new low, the Central Bank of Kenya said in its update of the financial markets released Friday evening. The reserves stood at 6.38 billion dollars at the end of the week, an equivalent of 3.56 months of import cover, according to the apex bank. This was a decline from 6.45 billion dollars or 3.60 months of import cover the previous week. The shilling closed Friday at 135 against

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