The Kenyan shilling is standing firm against global and regional currencies, with the Central Bank of Kenya (CBK) reporting an exchange rate of KSh 129.2452 per US dollar on April 2, 2025.
The British pound trades at KSh 166.9202, the euro at KSh 139.4297, and 100 Japanese yen at KSh 86.2066, reflecting minor ripples in Asian markets.
Regionally, the shilling fetches KSh 28.2718 per Ugandan shilling, KSh 20.4263 per Tanzanian shilling, KSh 10.9070 per Rwandan franc, and KSh 6.9795 per South African rand.
This stability follows a robust climb in foreign exchange reserves to $10,001 million (KSh 1.3 trillion), up from $8,877 million in January, now covering 5.1 months of imports—a three-month high.
CBK Governor Kamau Thugge credits President William Ruto’s stabilization policies, including a $1.5 billion Eurobond buyback in 2024 that eased default fears and lured investors. Infrastructure bonds also drew hefty dollar inflows, allowing CBK to sell dollars and curb February’s demand surge.
The shilling, which shed 22% against the dollar from March 2022 to January 2024, has clawed back ground, bolstered by a 19.2% spike in diaspora remittances to $423.2 million in November 2024.
Ruto’s focus on slashing wasteful spending and boosting tourism has further propped up confidence. Yet, last week’s dip in CBK reserves to $9,057 billion signals the cost of these interventions amid global headwinds.
