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 | 11.50 | 0.0 % | Sep 04 |
| Exchange Rate | 103.9 | 0.05 % | Sep 04 |
| Stock Market | 0.4 | 0.0 % | Sep 04 |
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Economic News
Kenya: PMI continues to fall but remains solid in August
September 4, 2019
Business conditions in the Kenyan private sector improved again in August, although more weakly than the previous month.
Kenya: Inflation falls to five-month low in August
August 30, 2019
Consumer prices fell 0.90% over the previous month in August, following a 0.36% month-on-month drop in July.
Kenya: PMI eases but remains strong in July
August 5, 2019
Businesses conditions in the Kenyan private sector continued to improve, albeit at a softer pace, in July.
Kenya: Inflation rises in July
July 31, 2019
Consumer prices fell 0.36% over the previous month in July, following a 0.69% month-on-month drop in June.
Kenya: Central Bank holds rates steady in July
July 24, 2019
At its meeting on 24 July, the Monetary Policy Committee (MPC) of Kenya’s Central Bank decided to hold the central bank rate stable at 9.00%, where it has been since July 2018.
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