Foreign News: Kenya FX reserves edge lower, overnight lending leaps

Kenya’s central bank said in its latest weekly bulletin that official usable foreign exchange reserves declined marginally to $3.957 million as of June 24 from $3.976 billion a week earlier.

Kenya’s central bank said in its latest weekly bulletin that official usable foreign exchange reserves declined marginally to $3.957 million as of June 24 from $3.976 billion a week earlier.

The central bank said its foreign exchange reserves were equivalent to 3.72 months of import cover, down from 3.79 months a week earlier. The bank is supposed to hold official reserves equivalent to four months of import cover.

The central bank also said that due to tight liquidity in the money market, lending through its overnight window jumped.

Agencies

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