Nairobi, Sept. 11 -- Official foreign exchange reserves held at the Central Bank of Kenya (CBK) dropped by $471 million (Sh51 billion) since the beginning of August, attributed partially to external debt interest payments and efforts to support the shilling against volatility amid an increase in the country's import bill.
Latest CBK data shows the reserves fell from $ 9.336 billion (Sh1.01 trillion) at the beginning of last month to $ 8.865 billion (Sh960.08 billion) by September 3.
Despite the drop - of which $98 million (10.6 billion) was recorded last week - the reserves still comfortably meet the required statutory minimum of supporting at least four months of import cover.
"The usable foreign exchange reserves remained adequate at $...