The Kenyan shilling (KES) is the official currency of Kenya and is divided into 100 cents.
The KES has a long and complex history, shaped by a variety of political, economic, and social factors. The first Kenyan shilling was introduced in 1966, replacing the East African shilling at par. The new currency was decimalized, with one shilling equal to 100 cents.
The Central Bank of Kenya (CBK) is responsible for issuing the currency and which creates monetary policy including setting the interest rate on government debt and regulating the money supply.
The value of the Kenyan shilling has fluctuated considerably over the years, due to a variety of factors including inflation, political instability, and international trade relations.
Currently, the Kenyan shilling is considered to be a relatively stable currency and one of Africa’s most important.