During the month, the usable foreign reserves declined by 5.83% to settle at USD 7.01 billion (3.92 months of import cover). This lies below CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover as well as EAC region’s convergence criteria of 4.5 months of import cover.
During the month, the usable foreign reserves increased by 5.22% to settle at USD 7.44 billion (4.17 months of import cover). This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover. However, it lies below the EAC region’s convergence criteria of 4.5 months of import cover.
During the month, the CBK’s usable foreign reserves declined by 2.96% to settle at USD 7.07 billion (3.96 months of import cover). This falls below the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover as well as EAC region’s convergence criteria of 4.5 months of import cover.
During the month, the CBK’s usable foreign reserves declined by 1.86% to stand at USD 7.29 billion(4.11 months of import cover). This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover. However, it is below the EAC region’s convergence criteria of 4.5 months of import cover.
During the month, the CBK’s usable foreign reserves increased by 0.66% to stand at USD 7.42 billion (4.19 months of import cover). This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover but below the EAC region’s convergence criteria of 4.5 months of import cover.
During the month, the CBK’s usable foreign reserves declined by 4.72% to stand at USD 7.38 billion(4.20 months of import cover).However, this meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover but falls below the EAC region’s convergence criteria of 4.5 months of import cover.
During the month, the CBK’s usable foreign reserves declined by 2.38% to stand at USD 7.74 billion(4.46 months of import cover). However, this meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover.
During the month, the CBK’s usable foreign reserves declined by 2.38% to stand at USD 7.98 billion(4.74 months of import cover).However, this meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover.
During the month, the CBK’s usable foreign reserves declined by 2.97% to stand at USD 8.18 billion(4.86 months of import cover). However, this meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover.
During the month, major global markets were mixed as investors continue to monitor developments in the Russia-Ukraine crisis and the Covid-19 outbreak in China. In the USA, the S&P 500 and Dow Jones indices gained by 3.58% and 2.36% respectively from the previous month after the release of the jobs report showing an increase of 490 thousand jobs and the unemployment rate falling to 3.7% suggesting the Federal Reserve can continue to combat inflation without hurting the economy too severely. In Europe, the continental index of STOXX Europe 600 and UK’s FTSE 100 appreciated by 0.61% and 0.77% respectively.