NAIROBI, Feb. 8 (Xinhua) -- Kenya's foreign exchange reserves increased by 324 million U.S. dollars this week, surpassing 9.2 billion dollars, amid a rise in inflows from exports and a stronger shilling, the Central Bank said in an update released Friday evening.

The apex bank said that the reserves stood at 9.22 billion dollars on Feb. 6, covering 4.7 months of imports, an increase from 8.88 billion dollars the previous week.

This week's surge marks the third consecutive increase, with reserves at 8.65 billion dollars on Jan. 23, the apex bank said.

The bank further noted that inflows from goods exports, tourism and diaspora remittances have been rising, particularly increasing by 15.4 percent, 14.6 percent and 18 percent, respectively, in 2024.

This surge, along with disbursements from the International Monetary Fund (IMF), has contributed to the buildup of foreign exchange reserves, according to Central Bank Governor Kamau Thugge.

"The foreign exchange reserves continue to provide adequate cover and a buffer against any short-term shocks in the foreign exchange market," Thugge said during a Monetary Policy Committee briefing on Wednesday.

Meanwhile, the shilling has remained stable against the U.S. dollar, exchanging at 129.2 this week, an indication that it does not require the central bank's intervention. Enditem

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