Year-to-date, the shilling has shed more than 13 per cent of its value from the Sh124.49 it averaged against the dollar in January. 216 to a unit of the dollar, Central Bank of Kenya (CBK) data shows.

The local currency on Wednesday weakened further to a low of Sh141. dollar, the euro, the British pound and the Japanese yen.Kenyan households are staring at an even higher cost of living this month as the shilling continues on a free fall against the dollar, hitting imports and local companies’ operations. For decades, the most important base currencies of the world have been the U.S. On the currency market, there is a larger trade volume than on the credit or the stock market. Thus, there are worldwide more than 160 official currencies that can be traded on the currency market at constantly changing exchange rates. Today, almost every country has its own currency, with the exception of countries with a common currency (such as the Eurozone) or countries that have adopted a foreign currency (such as the euro in Kosovo). Minting of coins from precious metals was developed about 2500 years ago in ancient Greece paper money has existed for about 1000 years. In the beginning, different items were used as currency, including metals, pearls, shells or agricultural products. The functions that a currency took on (means of payment, value storage, unit of value) were essential to the development of an efficient economy with division of labor. (read more)Ĭurrencies have existed for several millennia they arose primarily as a replacement for the ineffective barter trade. Here, the currency calculator shows the opening and closing rate as well as the lowest and highest rates for the respective date. The result provided by the currency calculator is displayed in a clearly arranged table. This way, the Markets Insider currency calculator allows you to search for historical exchange rates. Additionally, you can also choose whether to calculate the result based on the current exchange rate or the exchange rate on a certain date. Once you select the base and target currencies from the list and enter the desired amount into the provided field, the currency calculator immediately gives you the result. In total, there are about 160 different currencies available on the currency calculator. With the currency calculator, you can quickly and easily convert amounts between any currencies.

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20 euro cent coin to kenyan shillings