NAIROBI, Nov. 14 (Xinhua) -- Kenya's foreign exchange reserves have declined to below five months of import cover after the Central Bank moved to cushion the Kenyan shilling from the aftershocks of U.S. election.
The dollar reserves currently stand at 7.54 billion dollars or 4.8 months of import cover, down from 7.63 billion dollars or 5.1 months of import cover early this month, latest data from the regular showed Monday.
It is the first time since April that the dollar reserves have fallen below five months of import cover, with analysts citing the U.S. elections as the cause of the over 90 million dollars decline.
Last week, the Central Bank expressed readiness to forestall the fall of the shilling due to speculative trading caused by U.S. president-elect Donald Trump surprise victory. Dealers confirmed the bank had intervened.
The apex bank normally intervenes in a volatile market by selling or purchasing of dollars, mopping up or injecting local currency liquidity depending on the direction of the shilling.
The shilling has remained relatively stable against the dollar following the U.S. election, closing last week at 101.8 against the dollar, from 101.6 the previous week.
Monday morning, the Central Bank quoted the shilling at 101.7 against the dollar, an indication that it had strengthened from last week's position.
Analysts, however, noted the shilling may not be out of the woods yet.
"This strengthening could be a sign of the shilling being artificially propped-up, and with increased dollar demand from oil importers as well as corporates to meet their foreign dividend obligations, alongside the global market volatility, we may witness short-term weakening on the shilling," said Cytonn, an investment firm based in Nairobi.
Beaches and Resort near Honnavar is an untouched area in the coast of Karnataka shores. Some might have heard of it but this is a place waiting to be explored by a majority of tourists for its unpolluted Men's UA Curry 3 Mid Shoes Black , serene natural trekking spot. Beach trekking as much as hill trekking is a word that comes by familiarity and personal experience. There are number of resorts near Honnavar so that you can stay for a beach trek along the Arabian Sea.
There are as much resorts around Honnavar as there are beach near this shoreline. Kudle beach, Om beach, Half moon beach, paradise beach and many more. A beach trek from Gokarna to Honnavar encompasses a distance of around 45 kms which is suitably connected by rail and bus to various parts of the district and also the country since national highway is the trunk route that connects people from all parts of the country.
Goa being the nearest airport, a trekking route by cycle or jeep or SUV along the sea is the happiest journey and an easy maneuver to the rocks. If you have come without a vehicle, take an auto or bus from Karki village to reach and stay Near Honnavar.
Beach trek from Bhatkal to Maravanthe covers35 kms of distance and the best time to trek will be from November to February. You can put up a night camp for a stay more than 2 days. This will cover routes like Sodigadde, Alvegadde, Cross river by boat, Dombe till Maravanthe. Bhatkal is easily accessible by rail and bus and Mangalore airport being the nearest. If you are crossing stream at Alvegadde there is an always local fish boat to your advantage. Less of terrains this route is good to break for one day which has quite a number of hotels for visitors to stay.
From Gokarna to Ankola en route Belekeri, Deshina Halli, Gabth Halli through Cross river by boat through Gangavalli is a 20 km journey and the best time to trek is November to February. The choice is yours if you want to stay night camping or stay on the beach. This area is much nearer to Goa Dabolim airport and from Ankola to belekeri you can catch a bus or auto to reach the beach place.
Some he path parallel to the beach.
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