Kenya: CBK Considering Buying Gold to Diversify Foreign Exchange Holdings

Kenya is set to acquire more gold to diversify its foreign exchange holdings beyond the dollar and other currencies, Central Bank of Kenya Governor Kamau Thugge has revealed.

While speaking to Bloomberg, Thugge revealed the CBK is actively considering adding more gold to its reserves amidst reports of current reserves dwindling. However, Thugge did not disclose the timeline of this endeavour.

“We have basically a group that is looking at the feasibility of doing it and yes, that’s…