Shilling holds steady as forex reserves hit Ksh1.97T

The Kenya shilling maintained its stability against major currencies during the week ending September 10, 2026, according to the Central Bank of Kenya (CBK). The local currency traded at Ksh129.45 per U.S. dollar, unchanged from the previous week. The shilling's weekly average against the dollar was Ksh129.44. The CBK reported that the shilling's movements against the British pound, euro, and regional currencies were modest.

Kenya's foreign exchange reserves stood at approximately Ksh1.97 trillion by September 10, up from Ksh1.93 trillion a week earlier. These reserves, equivalent to 6.3 months of import cover, met the CBK's requirement of maintaining at least 4 months of import cover. The improvement in reserves was observed during a week of rising international oil prices, with Murban crude reaching $95.41 per barrel.

Domestic money markets remained liquid, with commercial banks holding excess reserves above the 3.25% cash reserve requirement. The Kenya Overnight Interbank Average remained unchanged at 8.75%. Trading between banks increased, with the average number of interbank transactions rising to 23 from 16. The CBK continued to monitor liquidity conditions and foreign exchange market movements.