Kenya’s import cover fell to its lowest level in seven years this week, the central bank’s Bank of Kenya said in its weekly financial markets update.
According to the Bank of Kenya update released on Friday evening, import cover stood at 4.11 months, equivalent to $7.29 billion, down from $7.32 billion or 4, 13 months of imports cover the previous week. The last time reserves covered 4.11 months of imports was in October 2015.
Meanwhile, the central bank pointed out that while Kenya’s current import cover is slightly above the required four months, it has fallen below the 4.5 months of cover recommended by the East African Community. East. End
