Kenya’s GDP recorded a decelerated growth of 4.9 percent in the year 2017 compared to 5.9 percent in the previous year, attributed to political uncertainty. In 2018, the GDP rebound to 6.3 percent making it the fastest acceleration in eight years The surge was mostly supported by favourable weather conditions that led to increased agricultural production as well as high infrastructural investments. The drastic contraction from 5.4 percent realized in 2019 to 0.6 percent in 2020 was occasioned by COVID-19 pandemic. However, the economy is expected to rebound and the GDP growth rate is projected to rise to 6.0 percent in the year 2021. This will be supported by stable macroeconomic environment in favour of trade and conducive weather to the agricultural sector as the economy recovers from the pandemic.
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Kenya’s foreign exchange rates are computed and compiled daily for access and use by the general public. The rates reflect the average buying and selling rates of the Kenyan Shilling against major participants in the foreign exchange market.
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