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

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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

Currency Mean Buy sell
US DOLLAR 109.7776 109.6776 109.8776
SW KRONER 12.5941 12.5805 12.6077
STG POUND 150.7512 150.5994 150.9029
SINGAPORE DOLLAR 81.1035 81.0147 81.1924
SAUDI RIYAL 29.2701 29.2427 29.2976
SA RAND 7.3393 7.3308 7.3478
S FRANC 119.5900 119.4485 119.7316
NOR KRONER 12.4457 12.4323 12.4592
KES / USHS 32.2648 32.1544 32.3752
KES / TSHS 21.1246 21.0598 21.1894
KES / RWF 9.1892 9.1696 9.2088
KES / BIF 18.0733 17.9113 18.2353
JPY (100) 99.6484 99.5531 99.7437
IND RUPEE 1.4806 1.4792 1.4820
HONGKONG DOLLAR 14.0968 14.0840 14.1097
EURO 129.0982 128.9635 129.2329
DAN KRONER 17.3474 17.3302 17.3645
CHINESE YUAN 16.9298 16.9078 16.9517
CAN $ 86.9733 86.8803 87.0663
AUSTRALIAN $ 79.6656 79.5821 79.7492
AE DIRHAM 29.8865 29.8564 29.9166

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