The Kenyan Shilling: A Key to Understanding Kenya's Economy

The Kenyan Shilling is the official currency of Kenya, and it's a vital part of the country's economy. The shilling is subdivided into 100 cents, and it's issued by the Central Bank of Kenya.

The Kenyan Shilling is pegged to the US dollar, which means its value is tied to the value of the US dollar. This is a result of the country's monetary policy, which aims to maintain a stable exchange rate.

The Central Bank of Kenya plays a crucial role in maintaining the stability of the Kenyan Shilling. It sets interest rates and regulates the money supply to ensure the currency remains strong.

The Kenyan Shilling is widely used in Kenya, and it's also accepted in some neighboring countries, such as Uganda and Tanzania.

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The Kenyan Shilling is the official currency of Kenya.

It's subdivided into 100 cents, but you won't often see prices quoted in cents.

The Kenyan Shilling was introduced in 1921, replacing the East African Shilling.

It's a fiat currency, which means its value is determined by supply and demand.

You can exchange your currency for Kenyan Shillings at banks, currency exchange offices, or some hotels.

It's always a good idea to check the current exchange rate before making a transaction.

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In Kenya, prices are written in a unique notation that might take some getting used to. The notation is based on the amount in shillings and cents, represented as x/y, where x is the amount in shillings and y is the amount in cents.

The Kenyan shilling notation is modeled after the pre-decimal sterling notation, which used pounds, shillings, and pence. In Kenya, amounts under a certain threshold are written in shillings and cents only.

For example, 50 cents is written as "-/50" and 100 shillings as "100/=" or "100/‑". The abbreviation KSh is often prefixed to distinguish the currency.

Here's a quick reference guide to help you understand the notation:

The Kenyan shilling has a relatively recent history, dating back to 1966 when it replaced the East African shilling at par. This change marked a significant shift in the country's currency system.

The Kenyan shilling replaced the East African shilling in 1966 at par.

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The Kenyan shilling has undergone several changes in denominations over the years. The first coins were issued in 1966 in denominations of -/5, -/10, -/25 and -/50, and 1/= and 2/=.

You can still find 1/= and 2/= coins in circulation, although 2/= coins were last minted in 1971. The 5/= coin was introduced in 1973 and again in 1985, and is now bi-metallic.

Here's a list of the current denominations of the Kenyan shilling:

Note that the 40/= commemorative coin was issued in 2003 to commemorate the fortieth anniversary of Kenyan independence.

The Kenyan shilling has a fascinating history of coinage. The first coins were issued in 1966 in denominations of -/5, -/10, -/25, and -/50, and 1/= and 2/=.

The 10 cents coin, in particular, is notable for its design. The obverse features a bust of Daniel arap Moi with the lettering "PRESIDENT OF REPUBLIC OF KENYA DANIEL TOROITICH ARAP MOI". The reverse shows the face-value, year, Coat of arms of Kenya, and country name.

In 1973 and 1985, new coins were introduced, including the 5/= coin. This coin features a bi-metallic design with a Brass-plated steel center plug and a Nickel-plated steel outer ring.

The Kenyan shilling has undergone significant changes in its coinage over the years. New coins were introduced in 1994 and 1998, including the 10/= and 20/= coins.

Here is a summary of the new coins issued in 2018:

The new series of coins is designed to be more recognisable for visually impaired people.

The Kenyan shilling replaced the East African shilling at par on September 14, 1966.

The Central Bank of Kenya issued notes in denominations of 5/=, 10/=, 20/=, 50/=, and 100/=, featuring Jomo Kenyatta's portrait on the front and diverse economic activities on the back.

5/= notes were replaced by coins in 1985, and 10/= and 20/= notes followed suit in 1994 and 1998.

A new series of notes was introduced in 2003, featuring Kenyatta's portrait again in denominations of 50/=, 100/=, 200/=, 500/=, and 1,000/=.

These notes are printed in Nairobi by security printer De La Rue.

The issue of the 200/= banknote dated December 12, 2003, commemorates the "40 years of Independence 1963–2003".

The Central Bank of Kenya issued a new family of banknotes on May 31, 2019, without the portraits of known Kenyan individuals.

These new banknotes feature the Kenyatta International Convention Centre on the front side and images showcasing the richness of the people and nature of Kenya on the back.

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The Kenyan shilling has been on a roll lately, and it's not hard to see why. The CBK reported stability in the shilling's value against major international currencies in recent months.

This stability is largely due to the US dollar's decline against its peers, including the sterling pound and euro. As a result, the value of the Kenya shilling has grown significantly.

Kenya's economy has also been on the upswing, with a 5.8% annual growth rate in 2016, ranking it as one of the fastest-growing economies in Sub-Saharan Africa. The country's GDP growth is largely driven by an increase in tourism and investment in its infrastructure.

The World Bank data shows that Kenya's GDP more than doubled between 2006 and 2016, increasing from $25.8 billion to $70.5 billion.

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The Kenyan shilling's strength can be attributed to the stability in its value against major international currencies. The Central Bank of Kenya (CBK) reported stability in the shilling's value in the past months.

This stability was partly due to the US dollar's decline below its peers, including the sterling pound and euro. The dollar's drop led to a significant growth in the value of the Kenya shilling.

The strength of the shilling saved Kenya from rising dollar-denominated external debt, according to a report by the Controller of Budget (CoB).

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Kenya's economy has been growing steadily, with a 5.8% annual growth rate in 2016, ranking it among the fastest-growing economies in Sub-Saharan Africa.

This growth is largely due to an increase in tourism and investment in the nation's infrastructure. The World Bank data shows that Kenya's GDP more than doubled between 2006 and 2016, increasing from $25.8 billion to $70.5 billion over that same period.

Kenya's gross national income per capita also doubled between 2006 and 2016, measured in U.S. dollars. However, the nation's public debt as a percentage of national output is now 60%, compared to around 40% in 2013.

Despite this, the Kenyan shilling remains relatively stable, with a floating exchange rate against other currencies in the global forex market. The Central Bank of Kenya operates under a mandate to sustain price stability and maintain liquidity in the country's financial system.

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To get the current USD to KES exchange rate, you can simply type in the amount you want to convert and use our currency converter.

To select the currencies, click on the dropdown menu and choose USD as the currency you want to convert from and KES as the currency you want to convert to.

The KES to USD exchange rate is currently 1 KES = 0.00775 USD. This rate has remained relatively stable over the past 30 days, with a 30 day high of 0.0077 and a 30 day low of 0.0077.

If you're looking to convert a large amount, you'll want to keep an eye on the 30 day average, which is also 0.0077. The change in the exchange rate over the past 30 days is 0.03.

Over the past 90 days, the exchange rate has seen a 90 day high of 0.0078 and a 90 day low of 0.0077, with a 90 day average of 0.0077. The change in the exchange rate over the past 90 days is -0.12.

Here are some of the top currency pairings for Kenyan shilling, including USD:

The Kenyan shilling (KES) is the official currency of Kenya, and it's pegged to the US dollar. M-Pesa, a mobile banking service, allows users to store and transfer money through their mobile phones.

M-Pesa was introduced in Kenya in 2007 by Safaricom, the largest mobile phone operator in the country. The service is a blend of "M" for mobile and "Pesa" for money or payment in Swahili.

The KES is divided into 100 cents. The maximum insurance coverage for bank accounts held by Safaricom is 100,000 KES, which is roughly $1,000.

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M-Pesa is a mobile banking service that allows users to store and transfer money through their mobile phones. It was introduced in Kenya as an alternative way for the population to have access to financial services.

M-Pesa was launched by Safaricom, the largest mobile phone operator in Kenya, in 2007. The service is a blend of two entities where M means mobile and Pesa means money or payment in the Swahili language.

Cash collected from M-Pesa is deposited in bank accounts held by Safaricom. These bank accounts serve as regular checking accounts.

The bank accounts held by Safaricom are insured up to a maximum of 100,000 KES, which is roughly $1,000.

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The Kenyan shilling is a popular currency for international transactions, and there are several top currency pairings to know.

One of the most widely traded pairings is KES to USD.

You can easily exchange your Kenyan shillings for US dollars at a local currency exchange or online.

Another popular pairing is KES to CAD, which is useful for Canadians traveling to Kenya or sending money back home.

If you're planning a trip to Australia, you may want to consider exchanging your Kenyan shillings for AUD.

For those with ties to India, exchanging your Kenyan shillings for INR can be a convenient option.

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