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LOCAL CURRENCY IN KENYA

Need to know waht is the local currency in Kenya? The local currency in Kenya is called Shilling.

The Kenyan Shilling is issued and managed by the Central Bank of Kenya. To find out the current currency exchange rates for Shilling to other major currencies of the world, click on foreign currency rates.

Kenyan Currency Information
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The currency used in Kenya is called as the Shilling. This currency is denoted with the currency sign KSh and the ISO 4217 Code for the Kenyan Shilling is KES. The Shilling, is the official currency of the Kenya . It is divided into 100 smaller units called cent.

The constitution of Kenya provides that the Kenya government shall have the power to print the Kenyan Shilling and cent coins to be used as a legal tender in Kenya. The Kenyan Shilling bank notes and Cent coins are both designated as "legal tender" in payment of debts.

The Kenyan Shilling bill uses the decimal system, consisting of 100 equal units.

The symbol KSh, usually written before the numerical amount, is used for the Kenyan Shilling.

Currently printed bank notes denominations are 50, 100, 200, 500 and 1000 shillings 10, 20 shillings and the coins are minted in the denominations of 1, 5, 10 , 20 shillings 50 cent, 40 shillings.

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The Effect of Balance of Trade and Investment on the Value of Kenyan Shilling
Financial analysts regularly cite the balance of trade and investment in Kenya as the most important influence on the value of the Shilling. The difference between what the Kenya exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Shilling exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Shilling exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Kenyan Shilling.
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