KES (Kenyan Shilling)

Search Dictionary

Definition of 'KES (Kenyan Shilling)'

The Kenyan shilling (sign: KSh; code: KES) is the currency of Kenya. It is subdivided into 100 cents. The shilling was introduced in 1966, replacing the East African shilling at par. The currency is issued by the Central Bank of Kenya.

The shilling is divided into 100 cents. Coins are issued in denominations of 1, 5, 10, 20, 50 and 100 cents, and 1, 2, 5 and 10 shillings. Banknotes are issued in denominations of 50, 100, 200, 500, 1,000 and 5,000 shillings.

The shilling is pegged to the United States dollar at a rate of 1 USD = 102.95 KES. The shilling is a relatively stable currency, and has not experienced any major devaluations or revaluations in recent years.

The shilling is used in Kenya, as well as in the neighboring countries of Somalia and South Sudan. It is also used in some parts of Uganda and Tanzania.

The shilling is a popular currency for tourists, as it is relatively easy to exchange for other currencies. It is also a good currency for saving, as it is relatively stable.

The shilling is a symbol of Kenya's independence and sovereignty. It is a reminder of the country's history and culture, and it is a source of pride for Kenyans.

Do you have a trading or investing definition for our dictionary? Click the Create Definition link to add your own definition. You will earn 150 bonus reputation points for each definition that is accepted.

Is this definition wrong? Let us know by posting to the forum and we will correct it.