CBK Releases New Outlook for Kenyan Shilling Against U.S. Dollar

The Central Bank of Kenya (CBK) states that the shilling will remain steady against the U.S. dollar, supported by a balance of payments surplus of USD 619 million, approximately Ksh 80 billion. CBK Governor Dr. Kamau Thugge emphasized that even with conservative projections, the surplus remains solid, allowing the country to withstand current global economic turbulence. Negotiations are also ongoing with the IMF for a new funding program following the expiration of a previous $3.6 billion arrangement.