The Kenya shilling showed mixed but broadly positive performance against East African Community (EAC) currencies during the week ending July 16, 2026.While it slightly weakened against the US dollar, it strengthened against the Uganda shilling and Tanzania shilling.The shilling traded at KSh 129.34 per US dollar, a marginal depreciation from KSh 129.22 the previous week.However, it gained ground against the Ugandan shilling, rising from 28.36 to 28.54, and the Tanzanian shilling, increasing from 20.32 to 20.37.The currency remained stable against the Rwandese franc and Burundi franc, holding at 11.34 and 23.08 respectively.Kenya's foreign exchange reserves surged to USD 14,169 million (KSh 1.83 trillion), providing six months of import cover.This growth, however, contrasts with a decline in diaspora remittances by KSh 2.4 billion in June 2026, raising questions about economic stability.The Central Bank of Kenya noted the shilling's stability against major currencies, reflecting a calm trading environment.

The article highlights the interplay between currency movements and foreign reserves, underscoring their importance for Kenya's economic resilience.