Understanding the exchange rate between the Kenyan Shilling (KES) and the US Dollar (USD) is essential for anyone looking to transfer money, travel, or conduct international business. This article provides a detailed overview of the KES to USD exchange rate, historical trends, and various options for sending money between Kenya and the United States.
How To Send Money From Kenya To USA Step By Step Guide
Current Exchange Rate: KES to USD
As of the latest update, Sh100,000.00 (one hundred thousand Kenyan Shillings) is currently worth $773.99 (seven hundred seventy-three US Dollars and 99 cents) at 17:00 PM UTC. This conversion is based on the mid-market exchange rates. The current exchange rate is approximately 0.0077.
It's important to note that exchange rates are always changing due to market fluctuations. Consider the rates provided as estimates.
Historical Exchange Rate Trends
Analyzing historical data can provide insights into the volatility and potential future movements of the KES to USD exchange rate.
KES to USD Chart: High, low, average, and volatility over the last 7, 30, and 90 days.
Read also: KES to USD Guide
| Statistic | Last 7 Days | Last 30 Days | Last 90 Days |
|---|---|---|---|
| High | 0.0077473 | 0.0077627 | 0.0077942 |
| Low | 0.0077325 | 0.0077256 | 0.0077137 |
| Average | 0.0077386 | 0.0077403 | 0.0077371 |
| Volatility | 0.11% | 0.15% | 0.17% |
Looking back, on this day last year, Sh100,000.00 would have been exchanged for $775.19, which is $1.20 higher than today’s rate. The most favorable exchange rate over the past seven days was $774.23.
Factors Influencing the Exchange Rate
Exchange rates fluctuate due to a variety of economic factors. These include:
- Economic growth
- Monetary policy
- Inflation rates
- Political stability
- Global economic conditions
- Current account balance
- Interest rates
- Market sentiment
The Kenyan Shilling (KES) is forecasted to face downward pressure due to inflationary concerns and trade deficits. However, strong agricultural exports could provide some support for the KES, particularly if global demand remains high.
Currency Information
Kenyan Shilling (KES)
The Kenyan Shilling (KES) is the official currency of Kenya, issued by the Central Bank of Kenya. The currency symbol is KSh.
US Dollar (USD)
The US Dollar is the official currency of the United States. The currency code for US Dollars is USD, and the currency symbol is $.
Read also: Historical AED to KES Conversion
Transferring Money: Options and Tips
Several platforms offer services for transferring Kenyan Shillings to United States Dollars.
TransferGo
TransferGo is known for competitive foreign exchange rates, which you can find directly on their app. They are regulated by UK and EU law, with end-to-end encryption to keep your money and data safe.
Revolut
With Revolut, you can exchange 36 currencies and send money transfers in 70+ currencies. They offer live conversion rates and in-app exchange features. Revolut also emphasizes security with a fraud prevention team and custom-built security systems.
Western Union
Western Union allows you to send money to Kenya online, via their app, or in person at an agent location. Their encryption and fraud prevention efforts help protect money transfers.
Additional Platforms
- Ria Money Transfer
Tips for International Money Transfers
- Compare Exchange Rates: Check multiple platforms to find the best rates.
- Consider Fees: Be aware of any fees associated with the transfer.
- Security: Ensure the platform is secure and regulated.
- Transfer Time: Check how long the transfer will take.
Using the Kenyan Shilling and US Dollar
The Kenyan Shilling (KES) is the official currency of Kenya and is used for all transactions within the country. It can be used throughout Kenya, from major cities to rural areas and wildlife reserves.
Read also: Understanding TZS to KES Conversion
The USD is the official currency of the United States and its territories, including the Virgin Islands, Northern Mariana Islands, and American Samoa. It is also used as an official or de facto currency in several other countries and regions, such as Ecuador, El Salvador, East Timor, and Zimbabwe. The USD is widely accepted in international trade and finance.
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