Kenyan Shilling Gains Marginally Against U.S. Dollar as CBK Projects Inflation to Hit 6.2% by July

The Kenyan shilling edged higher against the U.S. dollar, reaching 129.53 KES per USD on April 9. The Central Bank of Kenya (CBK) warned that inflation could hit 6.2% by July 2026 due to rising oil prices linked to the conflict in the Middle East. Foreign exchange reserves stood at USD 13,316 million, providing an import cover of 5.7 months, well above the required minimum.