The Kenya Shilling maintained stability against key international and regional currencies in the week ending July 30, 2026, supported by a significant rise in foreign exchange reserves, the Central Bank of Kenya (CBK) reported.
Steady Currency Performance
According to the latest CBK weekly bulletin, the shilling traded at Ksh129.40 against the US dollar on July 30, a marginal improvement from Ksh129.53 recorded a week earlier. The currency exhibited minimal fluctuations during the week and remained stable against the British pound, euro, Japanese yen, and several East African currencies including the Ugandan and Tanzanian shillings, as well as the Rwandan and Burundian francs.
Forex Reserves Strengthen
Foreign exchange reserves rose sharply from about Ksh1.79 trillion on July 23 to approximately Ksh1.99 trillion by July 30, marking an increase of over Ksh193 billion within one week. This boost elevated Kenya's import cover to 6.4 months, surpassing the CBK’s statutory minimum requirement of four months.
The CBK noted, "The foreign exchange reserves remained adequate at USD 15,400 million (6.4 months of import cover) as of July 30," underscoring the country's enhanced capacity to meet external obligations and import needs.
Money Market Conditions
The Kenya Shilling Overnight Interbank Average Rate (OIBA) held steady at 8.75 percent during the same period, reflecting stability in the money market alongside the currency and reserves.
This combination of a stable exchange rate and increased forex reserves paints a positive picture of Kenya’s external financial position as of late July 2026.
