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On 14 September 1966, the Kenyan shilling replaced the East African shilling at par, although the latter was not demonetised until 1969. The Central Bank of Kenya issued notes in denominations of 5/=, 10/=, 20/=, 50/= and 100/=. All of the notes feature a portrait of Kenya's first prime minister and president, Jomo Kenyatta, on the front and ...
In October 2023, while responding to questions from a parliamentary committee on finance and national planning, Dr. Thugge said the decline in international reserves was caused by an overvaluation of the shilling against the dollar [5] This was against the backdrop of a gradual reduction in import cover from 5.5 months to 3.7 months.
The exchange rate of the Kenyan Shilling between 2003 and 2010 averaged about KSh74-78 per US Dollar. [67] The average inflation between 2005 and July 2015 was 8.5%. [68] In July 2015 Kenya's inflation rate was estimated to be 6.62%. [69]
In October 2023, while responding to questions from a parliamentary committee on finance and national planning, CBK Governor Dr. Thugge said the decline in international reserves was caused by an overvaluation of the shilling against the dollar. [17] This was against the backdrop of a gradual reduction in import cover from 5.5 months to 3.7 months.
The finance ministry says the amendments would blow a 200 billion Kenyan shilling ($1.56 billion) hole in the 2024/25 budget, and compel the government to make spending cuts or raise taxes elsewhere.
In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is grossly more favourable to the seller of the foreign currency than is the official bank rate, but such trading is usually illegal. [citation needed]
You can get TurboTax for 30% off on Amazon today. See all deals. In Other News. Entertainment. Entertainment. People. Jessica Simpson and husband Eric Johnson split after 10 years of marriage ...
John Travolta has plenty to celebrate in 2025.. The two-time Oscar-nominated actor marked the new year alongside daughter Ella Bleu Travolta, 24, and son Benjamin Travolta, 14, according to a ...