CBK: Shilling remains stable as forex reserves rise to Ksh2 trillion

CBK: Shilling remains stable as forex reserves rise to Ksh2 trillion The Kenya Shilling remained stable against major currencies in the week to July 30, 2026, as foreign exchange reserves rose to the equivalent of about Ksh2 trillion, according to the Central Bank of Kenya (CBK). The latest weekly bulletin shows the shilling exchanged at Ksh129.40 against the US dollar on July 30, 2026, compared with Ksh129.53 on July 23, 2026. “The Kenya Shilling remained stable against major international and regional currencies during the week ending July 30, 2026. It exchanged at Ksh129.40 per U.S. dollar on July 30, 2026, compared to Ksh129.53 on July 23, 2026,” the bulletin read in part. The currency traded within a narrow range during the week, while also remaining relatively stable against the British pound, euro, Japanese yen and selected regional currencies. Shilling holds steady against major currencies CBK data shows the shilling averaged Ksh129.53 against the dollar during the week of July 24 to 30, 2026. The local currency also recorded limited movements against the Ugandan shilling, Tanzanian shilling, Rwandan franc, and Burundian franc. The weekly movement came as the foreign exchange market continued to record activity from both buyers and sellers of foreign currencies. The CBK bulletin also reported stability in the money market during the period, with the Kenya Shilling Overnight Interbank Average Rate remaining at 8.75 per cent. Forex reserves rise to Ksh2 trillion Foreign exchange reserves increased significantly during the week. Foreign exchange reserves rose from approximately Ksh1.79 trillion on July 23, 2026 to Ksh1.99 trillion on July 30, 2026. The reserves provided 6.4 months of import cover, up from 5.9 months a week earlier. The CBK stated: “The foreign exchange reserves remained adequate at USD 15,400 million (6.4 months of import cover) as of July 30. This meets CBK’s statutory requirement to endeavour to maintain at least 4 months of import cover.” The latest position places the country well above the CBK’s statutory requirement of at least four months of import cover. Stronger external buffer The increase in reserves represents more than Ksh193.4 billion in one week, according to the bulletin. The higher reserve position provides a larger foreign-currency buffer for the country’s external obligations and import requirements. The CBK data also shows that the shilling remained relatively stable against regional and international currencies during the reporting period. The combination of a steady exchange rate and higher foreign exchange reserves forms the latest snapshot of Kenya’s external position at the end of July, 2026. The weekly bulletin provides data on movements in the exchange rate, foreign exchange reserves and money market conditions, offering a regular update on developments in the country’s financial markets.