Monthly Market Commentary – March 2021

During the month, the CBK’s usable foreign reserves declined by 0.76% to stand at USD 7.61 billion (4.67 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.

Monthly Market Commentary – February 2021

During the month, the CBK’s usable foreign reserves declined by 0.76% to stand at USD 7.61 billion (4.67 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.

Monthly Market Commentary – January 2021

During the month, the CBK’s usable foreign reserves declined by 1.12% to stand at USD 7.66 billion(4.71 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.

Monthly Market Commentary – December 2020

During the month, the CBK’s usable foreign reserves declined by 2.53% to stand at USD 7.75 billion(4.76 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.

Monthly Market Commentary – November 2020

During the month, the CBK’s usable foreign reserves declined by 2.09% to stand at USD 7.95 billion (4.88 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.

Monthly Market Commentary – October 2020

During the month, the CBK’s usable foreign reserves declined by 5.87% to stand at USD 8.12 billion (4.93 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.

Monthly Market Commentary – September 2020

During the month, the CBK’s usable foreign reserves declined by 3.75% to stand at USD 8.63 billion(5.23 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…

Monthly Market Commentary – August 2020

During the month of July, the CBK’s usable foreign reserves surged to an 11-month high. This
could be attributed to increased inflows from borrowed cash from international financiers and
high export earnings…

Monthly Market Commentary – June 2020

The Monetary Policy Committee (MPC) met on June 25, 2020 and for the second time retained the base lending rate at seven percent. Citing the impact of the continuing global COVID-19 (coronavirus) pandemic,
and measures taken by…

Monthly Market Commentary – May 2020

MONTH’S HIGHLIGHTS. The Monetary Policy Committee (MPC) met on May 27, 2020, against a backdrop of the continuing global COVID-19 (coronavirus) pandemic, and measures taken by authorities around the world…