April 14, 2015 / 12:12 PM / 5 years ago

Kenya central bank says watching forex market, ready to act

NAIROBI, April 14 (Reuters) - Kenya’s central bank said on Tuesday it was “closely monitoring” developments in the foreign exchange market and that it would continue to use monetary policy tools to deal with any volatility.

“The bank has adequate foreign exchange reserves in excess of 4.5 months of imports to cushion the exchange rate against these short-term shocks and volatility,” the bank said in a statement on its website, after the shilling touch fresh three-year lows. (Reporting by George Obulutsa)

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