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A drop in Kenya's foreign exchange reserves is no cause for alarm, and speculators against the shilling in the run-up to national elections should "chill", central bank head Patrick Njoroge said on Tuesday.
The bank's hard currency reserves dropped to $7.80 billion last week, equivalent to 5.2 months of imports, and traders said the central bank has sold dollars in the market at least twice in recent days to support the local currency.
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