Exchange Rate in Kenya
Kenya - Exchange Rate
Kenyan shilling soars to 33-month high against the U.S. dollar
The Kenyan shilling (KES) shot up in value against the U.S. dollar amid renewed political stability, which has led to a resurgence in strong capital inflows. On 20 April, the shilling closed the day at 100.1 KES per USD, which represented a 0.7% appreciation over the same day of the previous month and marked the highest value since July 2015. As of that date, the shilling had gained 2.6% of its value year-to-date and had risen 2.8% compared to the same day last year.
A return to political stability following a drawn-out election saga set in motion by last year’s disputed election, along with the end of a crippling drought, has spurred upbeat economic data and improved sentiment, leading in turn to a greater inflow of capital and propelling the shilling up. The pact signed in February between President Uhuru Kenyatta and election runner-up Raila Odinga seems to be helping improve the marred business climate and reassuring investors. Furthermore, the government’s commitment to modify or even entirely scrap the cap on commercial bank lending rates introduced in 2016, which has led to private credit growth tumbling to all-time lows and stymied credit to small- and medium-sized enterprises, is also pushing the growth outlook to the upside, strengthening confidence among investors.
Our panel expects the real to end 2018 at 106.1 KES per USD. In 2019, panelists believe the real will depreciate to 109.3 KES per USD.
Kenya - Exchange Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 86.45 | 90.55 | 102.3 | 102.5 | 103.2 |
Kenya Exchange Rate Chart
Source: Thomson Reuters
Kenya Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 12.15 | 0.0 % | May 13 |
| Exchange Rate | 101.1 | 0.05 % | May 13 |
| Stock Market | 0.1 | 0.0 % | May 10 |
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Economic News
Kenya: Business conditions in the Kenyan private sector worsen for the first time since November 2017
May 6, 2019
Business conditions in the Kenyan private sector deteriorated for the first time in one-and-a-half years in April, reflected by a drop in the Purchasing Managers’ Index (PMI)—produced by IHS Markit and Stanbic Bank—below the critical 50-point threshold separating expansion from contraction.
Kenya: Inflation soars to 19-month high in April
April 30, 2019
Consumer prices climbed markedly over the previous month in April, rising 3.51% month-on-month.
Kenya: Economy grows at the fastest pace in eight years in 2018
April 25, 2019
Economic growth climbed to 6.3% in 2018, well above 2017’s 4.9% expansion and marking the fastest acceleration in eight years.
Kenya: PMI edges down to the lowest in 16 months
April 3, 2019
Activity in the Kenyan private sector grew at a slightly weaker pace in March, reflected by a fall in the Purchasing Managers’ Index (PMI), produced by IHS Markit and Stanbic Bank, from 51.2 in February to 51.0 in March—the lowest print since November 2017.
Kenya: Inflation picks up after three consecutive months of decline
March 29, 2019
Consumer prices rose 1.60% over the previous month in March, following a 0.82% month-on-month increase in February.
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