How do you convert Kenyan Shillings to US Dollars?

The Kenyan Shilling is the official currency of Kenya. Its sign is KSh while the code representing it is KES.

While many people typically associate Kenyan shillings with the Ugandan and Tanzanian shillings, we would like to set the record straight by saying that the Kenyan shilling is a different currency. They are in no way the same.

Converting Kenyan Shillings to US Dollars is never a new thing. This is partly because the US dollar is so widely used and is likely to be the actual unit of exchange.

But there are also a large number of local Kenyans who travel to the US every few weeks or months for business or family reasons and need to convert their Kenyan shillings to US dollars.

Again there is the other lot which involves tourists who always find they need to convert Kenyan shillings to US dollars or Kenyan shillings to British pounds whenever they finish their travels within the country. Hence the question how to convert Kenyan shillings to US dollars.

How do you convert Kenyan Shillings to US Dollars?

Exchange rates are largely driven by world trade and the financial market in general, but differ slightly by financial institution.

Currently, most institutions are quoting the exchange figures in the range of 85-86 Ksh per dollar for buying or selling. The two main factors affecting the Kenyan Shilling to US Dollar conversion rates are:

  1. Inflation – As inflation rises, so does interest and the value of the currency depreciate, particularly when converting from Kenyan Shillings (KES). The ever-rising rates of inflation will mean that you will pay more and more KES for every US dollar, assuming the US currency continues to show the low inflation rates it has recently seen.
  2. CBK Interest Rates – The other factor that will have a direct impact on how many dollars one gets is the current interest rate charged by the CBK (Central Bank of Kenya). While the relevant central banks will try to attract foreign investment by raising interest rates, exchange rates will also rise. Simply put, the higher the Central Bank of Kenya interest rates, the higher the exchange rate, and the lower the interest rates, the lower the exchange rates.

Other influential factors are the country’s (in this case Kenya) economic and political performance. Seasons of political instability, such as during and shortly after the 2007-2008 chaos, push up exchange rates. The country’s debt and its position in world trade will also play a role. However, both are long-term factors.

Institutions dealing with currency conversions are represented both online and down the street. One can try one of the following;

1. Registered banks and their various branches distributed throughout the country.

2. Other registered banking institutions offering exchange services.

3. ATMs – Select the ATMs that offer currency conversion services. While these are probably just in strategic locations, they’ll get the job done if you can come up with one.

4. Other institutions such as top restaurants and hotels also provide such services.

A few things to note are;

  • ID cards, passports and permits might be useful.
  • Some banks and money exchange offices close at night. Therefore, it is quite convenient to be able to process your transactions during business hours.
  • For security reasons, try to convert only at verified exchange offices.
  • Keep your exchange documents safe. They can come in handy if you need to convert back to KES.

You can convert Kenyan Shillings to US Dollars using one of the following websites:

  • coin mill
  • The Money Converter
  • XE
  • Bloomberg
  • Currency.me.uk

Fast facts on Kenyan shillings

  1. The East African shilling at par was replaced by the Kenyan shilling in 1966.
  2. The first coins issued in 1966 consisted of 5 cents, 10 cents, 25 cents and 50 cents, and 1 and 2 shillings. They were minted by the Royal Mint of UK.
  3. The portrait of Kenya’s first President, Jomo Kenyatta, was featured on the foreign exchange front between 1967 and 1978.
  4. The Central Bank of Kenya introduced new coins with Kenyatta’s image in 2005.
  5. Sometime in 2003, to commemorate the 40th anniversary of Kenya’s independence, a 40 shilling coin bearing the portrait of then-President Mwai Kibaki was introduced.
  6. The Kenyan shilling is also known by the Swahili name Shilingi.
You May Also Like