Kenya’s foreign exchange reserves rose to a new record to stand at $14.6 billion (Sh1.9 trillion) as of Thursday last week up from $12.5 billion (Sh1.6 trillion) on February 26, boosted by proceeds from a recent Eurobond sale that has significantly strengthened the country’s external liquidity position.
The $2.1 billion week-long expansion reflected a sharp inflow of foreign cash following the government’s $2.25 billion (Sh290.3 billion) sovereign bond issuance late last month.
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