Kenya: Kenyan Shilling Holds Steady as Forex Reserves Reach 11-Month High

The Kenyan shilling has remained stable against the US dollar even after the dollar made a huge surge this week after the election of former US President Donald Trump. This surge resulted in many major currencies, including the Yen, Euro, and Pound, losing gains against the dollar before the election. 

This comes as the government’s forex reserves have hit an 11-month high.

According to CBK’s weekly bulletin, Kenya’s forex reserves have reached USD 9.32 billion (about Ksh1.2 trillion at…