Central Bank of Kenya foreign reserves decline by Sh50 billion

Central Bank of Kenya Governor DR. Patrick Njoroge. [Photo: Courtesy]

Central Bank of Kenya has reported a fall in foreign reserve from Sh871 billion ($8.50 billion] to Sh823 billion ($8.03 billion), a Sh50 billion drop from September 2018.

The reserve which is meant to cushion the economy in paying liabilities if need be, shrunk flooring the country’s import cover which according to CBK’s report is currently holding on at 5.3 months.