Sustainable Social Economic Empowerment
Exchange Rate
The KES has weakened against the USD to an average foreign exchange rate
of 111.4 in early November 2021.
111.5
110.5
109.5
108.5
107.5
106.5
105.5
USD/KES EXCHANGE RATE
Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21
Exchange rate 108.4 108.6 109.3 110.6 109.8 109.7 109.7 108.0 107.4 107.8 108.1 109.2 110.2 111.0
BANK
GBT
The market has recorded reduced inflows of US
dollars as well as increased demand by importers
following the steady rise in price of crude oil and
other commodities. For example, oil import bill is
today 70% higher than same period last year due
to rise in prices. Similarly, all other imported
goods are at least 10% higher in prices today
compared to Q3 2020.
CBK has however done market intervention on
days of significant volatility. However, in the
months of November and December 2021, we
expect further pressure on KES due to demand by
importers for Christmas holiday purchases.View entire presentation