Kenya's forex reserves decline due to foreign debt repayments, particularly to China

Nairobi [Kenya], July 23 (ANI): Kenya's foreign exchange reserves have experienced a significant drop of USD 487 million (about KES 63.9 billion) over the past week, following substantial repayments of external debt.

An English-language daily business newspaper published in Kenya, Business Daily, reported that this decline has reduced the resources critical for supporting the local currency.

The decrease in reserves follo