Kenya’s Central Bank is actively exploring the addition of gold to its foreign reserves as a strategy to diversify beyond currencies like the US dollar.
Governor Kamau Thugge confirmed a feasibility study is underway but declined to provide a timeline.
Currently, Kenya holds only 600 ounces of gold valued at about $1.3 million, having sold most of its holdings in 1998.
The country is also seeking a new IMF program after its previous $3.6 billion arrangement ended early in March.
Original Source: Bloomberg
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