Kenyan shilling steady at KSh 129.81 to the dollar as reserves cover 5.9 months of imports

The Kenyan shilling exchanged at KSh 129.81 per US dollar on 15 October 2026, compared with KSh 129.94 on 8 October, the Central Bank of Kenya (CBK) said in its weekly bulletin dated 16 October. The bank said the shilling remained stable against major international and regional currencies during the week ending 15 October.

Foreign exchange reserves were US$14,689 million as of 15 October, equal to 5.9 months of import cover. The bulletin said this meets the CBK's statutory requirement to hold at least four months of import cover.

Remittances from Kenyans abroad totalled US$438.5 million in September 2026, up 4.5 per cent from US$419.6 million in September 2025. Inflows over the 12 months to September 2026 fell by 1.0 per cent to US$5,032 million, from US$5,080 million in the same period a year earlier.

The CBK described remittances as a key source of foreign exchange earnings that continue to support the balance of payments. Its diaspora remittances page puts September's inflows at US$215.47 million from North America, US$97.74 million from Europe and US$125.34 million from the rest of the world.

In the money market, the Kenya Shilling Overnight Interbank Average (KESONIA) stayed at 8.75 per cent during the week. Commercial banks' excess reserves averaged KSh 20.5 billion above the 3.25 per cent Cash Reserve Ratio requirement.

At the Treasury bill auction on 15 October, bids totalled KSh 68.5 billion against an advertised KSh 28.0 billion, a performance of 244.6 per cent. Rates on the 91-day and 182-day bills declined, while the 364-day rate rose marginally.

At the Treasury bond auction on 14 October, the re-opened 30-year bonds drew bids of KSh 83.8 billion against an advertised KSh 50.0 billion, a performance of 167.7 per cent.

At the Nairobi Securities Exchange, the NASI, NSE 25 and NSE 20 share price indices fell by 2.57 per cent, 2.52 per cent and 1.97 per cent respectively in the week ending 15 October. Equity turnover rose by 33.42 per cent, while the number of shares traded fell by 25.91 per cent.

On global markets, Murban crude oil rose to US$102.39 per barrel on 15 October from US$101.67 on 8 October. Yields on Kenya's Eurobonds decreased by 5.79 basis points on average over the week.