The Kenyan shilling has remained stable since August, supported by proactive measures from the Central Bank of Kenya (CBK), elevated interest rates, and tightened foreign exchange regulations. While the currency appears slightly overvalued, it is protected by the CBK’s foreign reserves, which, although reduced from March’s peak, stand at a robust USD 9.936 bln, exceeding the five-year average and the CBK’s target of four months’ import cover.