The Kenyan shilling (KES) regained against major currencies, reaching a new high of 158.6 to the USD from a 30-year low of 161. This uptrend, starting from February 8, is expected to continue, bolstered by an increase in FX reserves from USD 6.61 bln at the end of 2023 to USD 7.13 bln as of February 9. Additionally, Kenya’s initiative to repurchase its USD 2 bln Eurobonds maturing in June has contributed to this positive momentum, enhancing the KES’ strength.