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Central banks

After Selling Gold in 1998, Kenya’s Central Bank Considers Building New Reserves

Fort Knox Audit After Half Century?
Fort Knox Audit After Half Century?

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.

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