Exchange Rate in Kenya

Kenya Exchange Rate | Economic News & Forecasts

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  

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Kenya Exchange Rate Chart

Kenya Exchange Rate
Note: Exchange rate, KES per USD (eop).
Source: Thomson Reuters

Kenya Facts

Bond Yield11.500.0 %Sep 04
Exchange Rate103.90.05 %Sep 04
Stock Market0.40.0 %Sep 04

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