KES to USD: Kenyan shilling remains stable due to low dollar demand

The Kenyan shilling (KES) held steady on Thursday compared with the previous session, supported by subdued dollar demand from importers, traders said.

At 0802 GMT commercial banks quoted the Kenyan shilling at 129.25/129.45, same level as Wednesday’s close.

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.

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