Kenyan Shilling Slips Marginally Against Dollar and Euro After Fuel Price Shock

The Kenyan Shilling weakened slightly against the U.S. Dollar and the Euro in the week ending May 15, closing at Ksh129.33 per dollar. This decline is linked to a historic fuel price increase driven by the ongoing conflict in the Middle East. Despite these pressures, Kenya's foreign exchange reserves remain robust at USD 13,507 million, equivalent to 5.7 months of import cover.