Bloomberg News

Kenyan Foreign-Exchange Reserves Decline on Support for Shilling

October 11, 2011

Oct. 11 (Bloomberg) -- The recent decline in Kenya’s foreign-exchange reserves is largely because of sales by the central bank to support the shilling, Central Bank of Kenya Governor Njuguna Ndung’u told reporters today in Nairobi.

Kenya’s reserves declined to $3.73 billion last week from $3.78 a week earlier, the central bank said on Oct. 7.

To contact the reporter on this story: Johnstone Ole Turana in Nairobi at jturana@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net


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