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The US dollar is currently worth less than Kenya shilling. Our currency calculator will allow you to check on the latest USD to KES exchange rates for free. Some people are speculating that the KES could be worth more than USD in the future. If this happens, it would be a sign that the global economic climate is improving.
USD to KES Exchange Rates
The USD to KES exchange rate is currently at about 103.5 Kenyan Shillings to every US Dollar. This means that for every US Dollar you have, you can buy about 103.5 Kenyan Shillings. The exchange rate has been fairly stable over the past few months, with only a slight decrease in value.
The US Dollar (USD) and Kenyan Shilling (KES) exchange rates have been on a gradual incline for the past few years. The USD to KES rate was at 107.5 in January, but it has since climbed to 120.7 as of September.
This means that for every 100 Kenyan Shillings someone wanting to buy US Dollars would need, they would now need extra Kenyan Shillings.
While the Kenyan Shilling has weakened against other major world currencies such as the Euro and British Pound, it has held steady against the US Dollar – making it a more attractive option for those looking to invest in USD or travel to America. It’s likely that this trend will continue in the short-term as global economic conditions remain uncertain.
What Affects Exchange Rates in Kenya?
The exchange rate between the United States dollar and Kenyan shilling is determined by a number of factors. The most important factors affecting the exchange rate are interest rates, inflation rates and the balance of trade.
If the interest rates in the United States are higher than the interest rates in Kenya, then more people will invest in dollars, which will increase demand for dollars and cause the exchange rate to rise.
If inflation is higher in the United States than it is in Kenya, then people will prefer to hold Kenyan shillings rather than dollars, which will decrease demand for dollars and cause the exchange rate to fall.
And if there is a trade deficit (i.e., if more goods are exported from the United States to Kenya than vice versa), this will also cause the exchange rate to decline, as there will be more supply of dollars relative to Kenyan shillings.
History of Kenyan Shillings – KES
The Kenyan shilling has a long and varied history, dating back to the 19th century. The shilling was introduced in 1905, and was pegged to the British pound at a rate of 1 shilling = 12 pence.
In 1948, the Kenyan shilling was decimalized and pegged to the US dollar at a rate of 1 shilling = 100 cents. The Kenyan shilling remained pegged to the US dollar until 1971, when it was floated freely on the open market.
Since then, the value of the Kenyan shilling has fluctuated considerably, reaching a high of KES 83.10 to USD 1 in February 2008 and a low of KES 120.00 to USD 1 in January 2016.
The Central Bank of Kenya (CBK) is responsible for issuing and controlling the Kenyan Shilling. The CBK sets monetary policy and regulates the financial sector in Kenya. The value of the Kenyan Shilling is pegged to the US Dollar, with 1 USD to 100 KES. The CBK also intervenes in the foreign exchange market to ensure that the value of the Kenyan Shilling remains stable.
Kenya release newly designed shilling banknotes recently, which were very well received. The CBK is governed by the Bank of Kenya Act, Section 15(1) which states that it shall be a body corporate with perpetual succession. The Bank of Kenya Act also stipulates that at least half of the members of the Board are to be nominated by government.
The US Dollar is also widely accepted in Kenya and can be exchanged at banks and foreign exchange bureau locations.
Visiting Kenya – Latest Kenyan Shilling Exchange Rates
If you’re looking to exchange your currency for Kenyan shillings, be sure to do your research first. The latest rates may not be what you expect, and the history of tourism in Kenya can tell you a lot about what to expect when you visit.
The Kenyan shilling is the official currency of Kenya. It is subdivided into 100 cents, and is often symbolized as Ksh. or KS/. The ISO 4217 code for the Kenyan shilling is KES.
The USD to KES exchange rate can change frequently, so it’s always best to do your research before exchanging any money in Kenya or before travelling there.
Financial and Trade Connections Between USA and Kenya
The United States and Kenya have a long history of trade and economic ties. The value of goods exported from the United States to Kenya has steadily increased over the years, reaching a total of $1.3 billion in 2016. Kenyan exports to the United States have also grown significantly, reaching a total value of $684 million in 2016.
The two countries have enjoyed a strong partnership in trade and investment, with cooperation in areas such as agriculture, energy and financial services.
In recent years, there has been growing interest by U.S. companies in investing in Kenya’s economy. Several major American companies have operations in Kenya, including General Electric (GE), IBM, Google, Microsoft, and PepsiCo.
One key area of cooperation between the United States and Kenya is in the field of development assistance.