Kenya’s foreign exchange reserves have soared to an all-time high of USD 12.19 billion (approximately KSh 1.57 trillion) as of October 30, 2025, according to data from the Central Bank of Kenya (CBK). This marks a significant rise from USD 10.72 billion (KSh 1.38 trillion) at the beginning of the month, an increase of USD 1.48 billion, or roughly KSh 190 billion, in just four weeks.
CBK Governor Kamau Thugge confirmed the figures during a briefing in Nairobi, noting that the reserves are now sufficient to cover 5.3 months of imports, comfortably surpassing the statutory minimum of four months. The sharp increase has strengthened Kenya’s external position, improving its ability to manage imports and shield the economy from global financial shocks.
The growth is largely attributed to higher remittances from Kenyans abroad, increased support from development partners, and strong foreign investment inflows. These factors have collectively stabilised the shilling and reinforced confidence in the economy.
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By the end of October, the Kenyan shilling maintained a steady exchange rate, trading at KSh 129.24 to the US dollar, unchanged from the previous week. It also remained firm against other major currencies, averaging KSh 171.61 against the British pound, KSh 150.44 against the euro, and KSh 84.78 against the Japanese yen, with minimal variation against regional currencies such as the Ugandan and Tanzanian shillings, the Rwandese franc, and the Burundi franc.
Interestingly, while the local currency’s stability has been welcomed domestically, the IMF has raised questions about its “excessive stability”, suggesting potential external influences in the market.
Kenya’s record reserve levels now provide a strong buffer for the economy, signalling resilience and improved investor confidence in the months ahead.
