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
|Exchange Rate (vs USD)||86.45||90.55||102.3||102.5||103.2|
5 years of economic forecasts for more than 30 economic indicators.
Kenya Exchange Rate Chart
Source: Thomson Reuters
|Bond Yield||12.57||0.0 %||Sep 20|
|Exchange Rate||100.8||0.05 %||Sep 20|
|Stock Market||0.1||0.0 %||Sep 20|
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September 5, 2018
Kenya’s private sector gained speed in August, as reflected by a climb in the Purchasing Managers’ Index (PMI), produced by IHS Markit and Stanbic Bank.
August 31, 2018
Consumer prices rose 0.31% over the previous month in August, contrasting a 0.89% month-on-month decline in July.
Kenya: PMI falls to lowest level since January in July but remains above the critical 50-point threshold
August 3, 2018
Kenya’s private sector lost momentum in July, as reflected by a fall in the composite Purchasing Managers’ Index (PMI), produced by IHS Markit and Stanbic Bank, which dropped to 53.6, down from 55.0 in June.
July 31, 2018
Consumer prices decreased 0.89% over the previous month in July, mirroring June’s print.
July 30, 2018
At its recent meeting held on 30 July, the Monetary Policy Committee (MPC) of Kenya’s Central Bank cut the Central Bank Rate (CBR) to 9.00% after the rate was held at 9.50% at its last meeting in May.