Kenyan Currency

Kenya's currency is based on the decimal system. The unit is the Kenya Shilling, divided into 100 cents. Coins start from the smallest denomination of 50 cents followed by KSh. 1, 5, 10 and 20. Notes are of Kshs 50, 100, 200, 500 and 1,000. There are no restrictions on the movement of money into or out of the country for business transactions and this acts as an incentive that encourages foreign exchange.



The original bills and coins for the Shilling were represented by the picture of the founder of our country, Mzee Jomo Kenyatta; but Daniel Arap Moi who took over after as the second President also created his own bills. The third and current President, Hon Mwai Kibaki followed suite and had his image put on all the coins and notes apart from the 1000 shilling note that still has the image of the country's founding father.

If you are planning to travel to Kenya for holiday or business then you may want to calculate the exchange rate of your country's cash and that of the Kenyan shilling.

There are several websites that offer this type of conversion engine. Please click on the currency converter in order to get this information.

I should also mention that anyone wishing to take more than Kshs. 500,000 out of the country will require written authorization from the Central Bank.

All Banks country-wide are open from 9:00am to 3:00pm Monday to Friday. Some branches open on Saturdays from 9:00am to 11:00am. Many banks are now equipped with 24 hour ATM machines. The Bank branches at Jomo Kenyatta International airport (Nairobi) and Moi International Airport both run 24 hour forex services that offer attractive exchange rates.

After doubts over the accuracy of 2007 presidential election results in Kenya sparked riots and disrupted transportation, analysts say the country's economy can recover - provided there is a swift political resolution to the crisis. Incumbent president Mwai Kibaki beat opposition candidate Raila Odinga in the Dec. 27 election. However, observers have criticized abnormalities in the vote-count process and both sides have launched accusations of rigging. Since Kibaki returned to the State House, hundreds have died as violent protests destroyed homes and livelihoods, while diplomats from Africa, Europe and the United States have pushed for a resolution.

The business community hopes to see Kenya go back to work and resume its strong economic growth, five percent annually during Kibaki's five-year tenure. But the post-election violence have tarnished Kenya's reputation as a stable haven nestled between flash points like Ethiopia, Somalia and Sudan.

Like many African countries, Kenya has shown impressive growth in recent years and, compared with its neighbors, it boasts strong infrastructure,a steady currency and foreign investment. It owes much of its growth to consumer spending and developing industries internally.

On Jan. 2nd 2008, the first trading day after the election, the Nairobi Stock Exchange lost about 5 percent of its total market cap to close around USD $12.3 billion. But with plenty of traders sitting home, trading was light and analysts say the drop doesn't necessarily represent market sentiment.

At the end of 2007, investors here were anticipating a big deal involving the largest telecom, Safaricom , which is partly owned by British giant Vodafone (VOD), expects to sell a stake in an IPO that could be the largest ever in East Africa. Whether these deals go through should be a good measure of investor confidence.