Kenya's forex reserves fall to five-year low as shilling depreciates

NAIROBI, Sept. 3 (Xinhua) -- Kenya's foreign exchange reserves fell by a record 28 billion shillings (233 million U.S. dollars) this week to settle at a five-year low amid a sustained decline of the local unit against global currencies, the Central Bank of Kenya (CBK) said in its weekly update of the financial markets released on Friday evening.

The apex bank noted that the reserves fell from 7.61 billion dollar