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

Barclays Bank

• 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.

Equity Bank

• 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

I&M Bank

• It facilitates the remittance of International currency as well as transactions for SPOT and FORWARD foreign exchange.

Important Info

• 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