Effects on real GNI depend on the net result that takes into account these two adjustments (Chart 6). Setting 2000 as the base year, real overseas income increased by about 2.5 times in 2012, pushing up real GDP for 2012 by 1.9 percent compared with that in 2000. On the other hand, the trade gains pushed real GDP downward by 5.8 percent.
Second, the Bank continues to intervene in the foreign exchange market through direct sale of foreign exchange to commercial banks both to ease demand pressures and drain Kenya Shilling liquidity. In addition to dampening volatility, the interventions slowed down the rate of depreciation of the exchange rate.