KES to USD: Kenyan shilling strengthens against US Dollar
NAIROBI, March 6: Kenyan shilling (KES) held steady on Thursday, with US Dollar (USD) inflows and importer demand staying low, traders said.
At 0742 GMT, commercial banks quoted the shilling at 129.00/40 per dollar, the same as Wednesday’s closing rate.
About KES
The Kenya 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.
