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Hazel Mwaka Mwazonga
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Africa > Kenya > Nairobi > Useful Info
Submitted on Oct 06, 2019 Useful Info

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

User submitted photo of Nairobi

New 1000 shilling note

User submitted photo of Nairobi