- Kenya's foreign exchange reserves fell by roughly $97 million between October 8 and October 15, 2026, according to the Central Bank of Kenya
- The Kenyan shilling posted a mixed performance against East African Community currencies over the same period
- The shilling lost ground against the Ugandan and Tanzanian shillings while recording marginal gains against two other regional currencies
TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting, offering insights into Kenyan and global economic trends.
Kenya's foreign exchange reserves declined by approximately $97 million (KSh 12.6 billion) in the week ending October 15, 2026, with the Kenyan shilling registering a mixed performance against currencies of fellow East African Community member states.
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The Central Bank of Kenya (CBK) disclosed in its weekly bulletin published on Friday, October 17, 2026, that reserves stood at $14,639 million as of October 15, down from $14,736 million recorded on October 8.
Despite the drop, the CBK said the country's import cover position remained sound.
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"The foreign exchange reserves remained adequate at USD 14,689 million (5.9 months of import cover) as of October 15. This meets CBK's statutory requirement to maintain at least four months of import cover," the CBK stated.
Against the Ugandan shilling, the Kenyan shilling weakened noticeably over the period, with one Kenyan shilling buying 30.46 Ugandan shillings on October 15, compared to 31.16 a week prior, representing a decline of 0.70 units.
The shilling also edged lower against the Tanzanian shilling, slipping from 20.27 to 20.26, a marginal drop of 0.01 units.
In contrast, the Kenyan shilling strengthened slightly against the Rwandan franc, rising from 11.34 to 11.36 over the same period. It similarly gained a fraction against the Burundian franc, moving from 23.09 to 23.10.
The figures represent the number of units of each EAC currency that one Kenyan shilling can buy. A fall in this figure indicates the Kenyan shilling has weakened against that currency, while a rise signals it has gained.
How big is Kenya's economy?
In other news, Kenya overtook Ethiopia in 2025 to regain its position as Eastern Africa’s largest economy, ending its neighbour’s five-year run at the top.
Ethiopia’s GDP, measured in US dollars, contracted by nearly 40% after the country eased foreign exchange controls as part of efforts to secure a $3.4 billion IMF loan.
The IMF projects that Kenya will maintain its regional lead and could surpass Angola by 2028, becoming Africa’s sixth-largest economy.
Source: TUKO.co.ke