Central bank of Kenya functions, portal, jobs , contacts, exchange rates

The Central Bank of Kenya (CBK) (Swahili: Banki Kuu ya Kenya) is the monetary authority of Kenya. Its head office is located in Nairobi. CBK was founded by in 1966 after the dissolution of East African Currency Board (EACB). Dr. Patrick Ngugi Njoroge is current Governor of CBK and Sheila M’Mbijjewe is the Deputy Governor.

Functions of the Central bank of Kenya

1. It acts as a banker’s bank.
2. It serves as a lender of last resort to commercial banks and also to the government.
3. It encourages the adoption of the financial system according to the changing needs of the markets.
4. It administers external reserves, exchange controls and handles external financial relations.
5. It manages the national reputation. It takes into account accumulated borrowings undertaken by the government to finance its expenditure.
6. It has the sole responsibility of issuing currency. It regulates the issue of notes and coins.
7. The bank is a government banker. It does not maintain the accounts of businesses and individuals in the private sector. It only maintains the accounts of governmental departments. This usually starts in a bank returns as public deposit.
8. Important of all is that it acts as an agent to the government. This is seen when it implements the monetary policy in the pursuit of the government''s national economic development. As part of this process, the bank acts as a medium for a two-way transmission between the government and the financial markets. Among other things, it collects extensive statistical information on all financial institutions. The information is usually about the following:
• The volume of business.
• The sectors of the economy that may need financial assistance inform of lending.
• Who is providing deposits to financial institutions?
9. The Central Bank of Kenya has a duty to supervise the banking industry in general. The bank can issue directives to commercial banks and other financial institutions indicating how much they should be lending (quantitative directives). This has been done through what is known as moral persuasion (friendly persuasion). The bank is mandated to inspect and supervise the directives given to non-bank financial institutions and commercial bank.

Central bank of kenya exchange rates

Key CBK Indicative Rates PDF

CBK Indicative Rates

Foreign Exchange Bureau Rates

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