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 | 12.45 | 0.0 % | Mar 11 |
| Exchange Rate | 99.7 | 0.05 % | Mar 11 |
| Stock Market | 0.2 | 0.0 % | Mar 11 |
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Economic News
Kenya: PMI falls to 15-month low in February
March 5, 2019
Business conditions in the Kenyan private sector improved only modestly in February, with activity in the sector growing at the weakest pace in 15 months.
Kenya: Inflation continues to slide in February
February 28, 2019
Consumer prices rose 0.82% over the previous month in February, following a 0.35% month-on-month increase in January.
Kenya: PMI falls in January on softer growth in new orders
February 5, 2019
The Purchasing Managers’ Index (PMI), produced by IHS Markit and Stanbic Bank, fell to 53.2 in January from 53.6 in December.
Kenya: Inflation declines in January on lower oil prices and stronger shilling
January 31, 2019
Consumer prices increased 0.35% over the previous month in January, following a 0.65% month-on-month rise in December.
Kenya: Central Bank holds rate steady at first meeting of the year
January 28, 2019
At its latest meeting held on 28 January, the Monetary Policy Committee (MPC) of Kenya’s Central Bank kept the Central Bank Rate (CBR) at 9.00%.
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