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SGR loan repayments leave Sh27b dent in forex reserves

President Uhuru Kenyatta flags off an SGR train at Syokmau station. [David Njaaga, Standard]

Kenya's foreign exchange (FX) reserves declined sharply by $226 million (Sh26.8 billion) after the National Treasury paid China loans borrowed to construct the Standard Gauge Railway (SGR).

Data from the Central Bank of Kenya (CBK) shows that FX reserves declined to $7.73 billion (Sh918.8 billion) by the end of Friday from $7.95 billion (Sh942.9 billion) the previous week.

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