Kenya - Official exchange rate (LCU per US$, period average)

The value for Official exchange rate (LCU per US$, period average) in Kenya was 109.64 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 109.64 in 2021 and a minimum value of 7.00 in 1973.

Definition: Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar).

Source: International Monetary Fund, International Financial Statistics.

See also:

Year Value
1960 7.14
1961 7.14
1962 7.14
1963 7.14
1964 7.14
1965 7.14
1966 7.14
1967 7.14
1968 7.14
1969 7.14
1970 7.14
1971 7.14
1972 7.14
1973 7.00
1974 7.14
1975 7.34
1976 8.37
1977 8.28
1978 7.73
1979 7.48
1980 7.42
1981 9.05
1982 10.92
1983 13.31
1984 14.41
1985 16.43
1986 16.23
1987 16.45
1988 17.75
1989 20.57
1990 22.91
1991 27.51
1992 32.22
1993 58.00
1994 56.05
1995 51.43
1996 57.11
1997 58.73
1998 60.37
1999 70.33
2000 76.18
2001 78.56
2002 78.75
2003 75.94
2004 79.17
2005 75.55
2006 72.10
2007 67.32
2008 69.18
2009 77.35
2010 79.23
2011 88.81
2012 84.53
2013 86.12
2014 87.92
2015 98.18
2016 101.50
2017 103.41
2018 101.30
2019 101.99
2020 106.45
2021 109.64

Development Relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world.

Limitations and Exceptions: Official or market exchange rates are often used to convert economic statistics in local currencies to a common currency in order to make comparisons across countries. Since market rates reflect at best the relative prices of tradable goods, the volume of goods and services that a U.S. dollar buys in the United States may not correspond to what a U.S. dollar converted to another country's currency at the official exchange rate would buy in that country, particularly when nontradable goods and services account for a significant share of a country's output. An alternative exchange rate - the purchasing power parity (PPP) conversion factor - is preferred because it reflects differences in price levels for both tradable and nontradable goods and services and therefore provides a more meaningful comparison of real output.

Statistical Concept and Methodology: The exchange rate is the price of one currency in terms of another. Official exchange rates and exchange rate arrangements are established by governments. Other exchange rates recognized by governments include market rates, which are determined largely by legal market forces, and for countries with multiple exchange arrangements, principal rates, secondary rates, and tertiary rates.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices