Kenya’s foreign exchange reserves rose by a record 1.55 billion U.S. dollars this week to reach an all-time high of 15.4 billion dollars, the Central Bank of Kenya (CBK) announced in its weekly financial markets update on Friday evening.
The reserve surge, up from 13.85 billion dollars the previous week, was primarily driven by capital inflows from the government’s partial divestiture of Safaricom, the country’s leading telecommunications company.
The updated reserves now cover 6.4 months of imports, up from 5.9 months the previous week, according to the central bank.
