The Kenya shilling remained stable, trading at KSh 129.91 against the US dollar on October 22, 2026, up from KSh 129.81, as foreign exchange reserves rose slightly to USD 14.693 billion.

According to the Central Bank of Kenya (CBK) Weekly Bulletin on October 23, the shilling remained relatively stable against the dollar while the British pound and euro strengthened against the local currency.

“The Kenya Shilling remained stable against major international and regional currencies during the week ending October 22, 2026. It exchanged at KSh 129.91 per U.S. dollar on October 22, compared to KSh 129.81 per U.S. dollar on October 15,” CBK data indicated.

Pound Rises to KSh 173.92

The British pound exchanged at KSh 173.92 on October 22, up from KSh 171.30 on October 15, while the euro rose to KSh 145.83 from KSh 144.43 over the same period.

Additionally, the rate for 100 Japanese yen increased from KSh 81.70 to KSh 82.18.

Against regional currencies, the Ugandan shilling traded at KSh 20.35, compared with KSh 20.26 on October 15.

The Tanzanian shilling stood at KSh 11.35, down from KSh 11.36, while the Rwandan franc remained at KSh 23.08.

However, the Burundi franc declined from KSh 11.36 to KSh 11.35.

Foreign Exchange Reserves Rise by $4 Million

As the Kenya shilling remained stable, CBK’s foreign exchange reserves rose by USD 4 million to USD 14.693 billion on October 22, up from USD 14.689 billion on October 15.

According to CBK, the latest reserve level was USD 349 million lower than the USD 15.042 billion reported on September 24.

The reserves’ import cover remained at 5.9 months as of October 22, unchanged from the previous readings but below the 6.1 months recorded on September 24 and October 1.

Money Market Remains Liquid as Interbank Trading Increases

Kenya’s money market remained liquid with commercial banks’ excess reserves averaging KSh 32.1 -13824 above the 3.25% Cash Reserve Ratio (CRR) requirement, according to the CBK.

The Kenya Shilling Overnight Interbank Average (KESONIA) remained stable at 8.75%, while activity in the interbank market increased.

Additionally, the average number of interbank transactions rose to 29 from 28 in the previous week.

The average value traded increased to KSh 19.8 billion from KSh 14.9 billion.

“The Kenya Shilling Overnight Interbank Average (KESONIA) remained stable at 8.75 percent. During the week, the average number of interbank transactions increased to 29 from 28 in the previous week, while the average value traded increased to KSh 19.8 billion from KSh 14.9 billion in the previous week,” CBK noted.

On October 22, banks recorded 36 interbank deals valued at KSh 23.3 billion, compared with 23 deals worth KSh 10.1 billion on October 15.

Kenya Shilling Stable amid Global Inflation

During the week ending October 22, UK headline inflation rose to 3.5% in September 2026 from 3.1% in August, driven mainly by higher fuel prices.

The US Dollar Index fell 0.44%, while Murban crude oil prices rose to USD 108.23 per barrel on October 22 from USD 102.39 on October 15.

CBK attributed the rise to elevated geopolitical risks in the Middle East and Europe.

In contrast, spot gold prices fell to USD 4,024.24 per ounce from USD 4,170.25 over the same period.

CBK argued that a sell-off in technology and artificial intelligence stocks drove the decline, prompting investors to shift assets to safe havens.

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Kenya Shilling Exchange Rates: Dollar, Pound and Euro Movements in October 2026
CBK Governor Dr Kamau Thugge and Kenyan Bank notes. PHOTO/CBK