What Is the Kenyan Shilling (KES)?

1
What Is the Kenyan Shilling (KES)?

• The Kenyan shilling (KES) is the country's
  official currency. It's popular in Kenya, Sudan,
  and Somalia. The shilling is divided further into
  100 cents. Prices are frequently preceded by the
  acronym KSh, as in "100 KSh" to denote 100
  shillings. The trading symbol for foreign
  exchange (FX) is KES.

Digital way to send KES
2
KES and Kenya's Economy

• The relative value of a currency, such as the
  Kenyan shilling, against other currencies is
  heavily influenced by individuals' and
  organisations' desire to hold assets denominated
  in shillings. This is determined in part by how
  other trading partners see Kenya's economic
  development and stability prospects.
• While Kenya's economy has remained sluggish in
  previous years, the yearly growth rate for the
  country's gross domestic product (GDP) has
  improved to 5.8 percent in 2016. Kenya is one of
  the fastest-growing economies in Sub-Saharan
  Africa, with an annual growth rate of 5.4 percent
  in 2019. Kenya's GDP growth is mostly
  attributable to an increase in tourism and
  investment in the country's infrastructure.

3
Understanding the Kenyan Shilling (KES)

• The KES/USD exchange rate peaked above 75
  shillings per US dollar in 2009, but fell to more
  than 105 shillings per dollar in 2015 and again
  in 2017. Since 2016, the Kenyan shilling has been
  hovering around the 100 level versus the US
  dollar, as worries rise over the amount of public
  debt Kenya has accumulated over the years. In
  January 2021, one US dollar equals around 110
  Kenyan shillings.
• The Kenyan shilling is one of East Africa's most
  stable currencies. Indeed, it is frequently used
  in neighbouring nations with less stable
  currencies, such as Sudan and Somalia. Although
  less volatile than other regional currencies, the
  Kenyan shilling's exchange rate has typically
  fallen compared to the US dollar during the last
  decade