A guide on how to exchange foreign currency in Kenya
- Following the demonetization efforts by the Kenyan government, the exchange of foreign currency might be tricky.
- The following is all you need to know if you wish to exchange foreign currency after the 30th of September,2019.
- Credited FOREX Institutions in Kenya
- This is one of the most reputable international banks in Kenya. It is, therefore, no surprise that they offer attractive exchange rates.
- Their services include The Barclays Spot Deal which is an agreement between the bank and its customers involving the purchase/ sale of foreign currency.
- This is then delivered in 2 working days.
- It also offers deals which can be booked in any 2 out of the 16 currencies that are readily exchangeable in Kenya
- You can find other Barclays forex exchange deals here.
Standard Chartered Bank
- Their services include SWIFT transfers, inward and outward services, foreign drafts and fast service.
- You can buy/sell foreign currency in any branch countrywide.
- This is one of the most preferred banks in Kenya offering services such as:
- Foreign exchange
- Foreign drafts
- Spot transactions
- Forward transactions
- Telegraphic transfers
- Foreign (FX) Currency Accounts
- Foreign exchange swaps
- Foreign currency-denominated loans
- It facilitates the remittance of International currency as well as transactions for SPOT and FORWARD foreign exchange.
- Do not accept Kenya's old 1000 shillings note, they were invalid as at 1 October, 2019.
Old 1000 shilling note
New 1000 shilling note