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2. Please note that these are Indicative Rates.
The economic health of a country has an effect of many factors but the chief factors having significant influence are interest rates, inflation, and the exchange rate. Exchange rate plays an important role in country’s level of trade that is quiet critical to most every free market economy in the world. This is the reason for which exchange rates are most concerning, analyzed and governmentally manipulated economic measures. This is a macro influence of exchange rates they also influence on micro level as they impact the real return of an investor’s portfolio.
Changes in Exchange rates have an effect on a nation's trading relationships with other nations. It explains that a higher currency makes a country's exports more expensive and imports cheaper in foreign markets while a lower currency makes a country's exports cheaper and its imports more expensive in foreign markets. So it is expected that higher exchange rate can be expected to lower the country's balance of trade, while a lower exchange rate would increase it.
Particularly exchange rates are related to the trading relationship between two countries so keep in mind that exchange rates are relative, and are expressed as a comparison of the currencies of two countries. These exchange rates are determined through supply and demand, so if the there is greater demand for American goods then there would tend to be an appreciation (increase in value) of the dollar. If there is any worry regarding future economy of US then markets will tend to sell Dollars that will eventually decrease the value of Dollar worldwide.
Specifically speaking about Kenya the Central Bank of Kenya gathers analytical foreign exchange rates daily for use by the general public. These rates are actually the reflection of average buying and selling rates of the major participants in the foreign exchange market at the open of trade every day therefor provides a distinctive indicator for any interested party on the value of the shilling on any particular day.
Keep clear in mind that these rates are only indicative and other Forex parties including commercial banks and Forex bureaus may apply varying rates on their Forex transactions. We provide the daily Exchange Rates for Kenya that can help the traders to make a wise and profitable decision.