CBK implements measures to protect Kenya shilling, curbs banks’ daily forex trade

Central Bank Governor Patrick Njoroge grilled by Parliamentary Select Committee on Employment at Parliament Buildings. [PHOTO MOSES OMUSULA/STANDARD]

NAIROBI: Commercial banks will now only transact a minimum of Sh50 million in the interbank foreign exchange market in new measures to contain weakening of the Kenyan shilling.

This is after the Central Bank of Kenya (CBK) set the minimum size for foreign exchange transactions on the interbank market at $500,000, which translates to about Sh50 million.