Kenyan Shilling to US Dollar Rate- Feb 12, 2025
The Kenyan shilling (KES) showed a modest gain against the US Dollar (USD) on Wednesday, buoyed by foreign exchange inflows from the diaspora and interventions by the central bank, according to traders. As of 0948 GMT, the shilling was trading at 128.50/129.50 per dollar, up slightly from Tuesday’s closing rate of 128.65/129.65.
A trader at a commercial bank noted, “We anticipate the shilling will remain steady in the near term, supported by these factors, until the outcome of the infrastructure bond auction is known. Such bonds typically draw significant foreign investor interest, which could further influence the currency’s performance.” Infrastructure bonds in Kenya are often sought after by international investors, contributing to foreign currency inflows that help stabilize the shilling.
About KES
The Kenyan Shilling (KES) is the official currency of Kenya, a country located in East Africa. It was introduced in 1966, replacing the East African shilling, which was used by Kenya, Tanzania, and Uganda. The Kenyan Shilling is subdivided into 100 cents.
The Central Bank of Kenya (CBK) is responsible for issuing and managing the Kenyan Shilling. The CBK sets monetary policy, regulates the financial system, and maintains financial stability in the country. The Shilling is widely accepted in Kenya and is used for all transactions, from small purchases to large business deals.
