The Kenyan shilling showed mixed performance against regional currencies amid a decline in foreign exchange reserves.According to Central Bank of Kenya (CBK) data, the shilling edged lower against the US dollar, trading at KSh 129.53 per dollar compared to KSh 129.34 the previous week.This depreciation coincided with a drop in forex reserves from KSh 1.84 trillion to KSh 1.79 trillion over the same period, a reduction of approximately KSh 40 billion.

However, the CBK noted that the shilling remained stable against most regional currencies, gaining ground against Ugandan and Rwandan units while losing marginal ground against Tanzanian and Burundian currencies.The bank emphasized that reserves are still sufficient to cover 5.9 months of imports, above the statutory minimum of four months.

The article also highlights progress on establishing a single EAC currency by 2031, though none of the partner states have met all macroeconomic convergence criteria.This report underscores Kenya's economic resilience despite the forex challenges.