It was in 1964 just after independence Kenya got her own currency which replaced the East Africa currency.
Before we begin, I would like to state it clear that a country's currency tells alot about it's economy and living standards of it's people. There is a big misconception that the most popular or biggest nations have the best and strongest currencies; this is absolutely false especially when it concerns Africa. There may be opinions of how your country has been ranked top best and richest but if the currency doesn't match your economy then other countries will be ahead. Most people would think and believe that
Kenya had their own currency in 1964 after independence replacing East Africa currency. Some of the currency were, 5 cents, 10 cents, 50 cents, 1 shillings, 5 shillings 10 shillings, 20 shillings, 50 shillings among others that had much value than today. For one who worked and got paid 10 shillings back then was considered as a highly paid person in the society because he/she would buy many items and even getting a change. East Africa Currency. On April 10, 1967, new shillings were issued in the denominations
It appears that the most popular currencies in Africa are not the ones that are most valuable. The biggest economies on the continent like Nigeria, South Africa and Kenya, are being beaten by countries one would not expect. Strength of currency of a given country is determined by various factors which include; market forces within the country, foreign exchange market, inflation, economic growth, mineral resources, currency supply and demand. If a country has strong currency it means that the country finds it
The economy of Africa, individual African states and regions has been on the rise despite being faced by a myriad of challenges that range from political, social and economic challenges.
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Have A Look At 6 Foreign Countries Where Ksh. 50,000 Might Make You A Solid Millionaire "Si Tuhame?"
Political instability and poor economic policies have seen Kenya's currency weaken against the US Dollar. Despite all that, Kenya's shilling is strong against many African currencies if the exchange rates between these countries is anything to go by. Countries like Nigeria, Egypt, Burundi, Zimbabwe, Rwanda, Uganda, Congo, Sierra Leon, Tanzania and many more have weaker currencies when pitted against the Kenyan Currency though it goes without saying some of such countries may be very strong against the US Dollar
Any country's currency is usually kept strong and superior by the amount of cash their central banks print and store in their banks. Undeveloped countries have always been hit by valueless currency as they usually print stacks of invaluable money which lowers their value within and internationally. Below are the top three strongest currencies in Africa; 1: Libyan Dinar The Libyan dinar has been gaining its strength due to the strict monetary policy in printing and supplying of cash by their central bank. The
The world is run by currencies. Each country has its own unique currency. United States of America has the US dollars. This currencies are not of the same strength. Some countries have stronger currencies as opposed to others. Here are the five most expensive currencies in the world. 1. Kuwaiti Dinar It's the strongest currency in the world. The value of one Dinar is equivalent to $3.34 US dollars. Kuwaiti is a small country that has a huge amount of wealth. Its highest value of currency is explainable by the
It is a common knowledge that the value of currencies around the World change on a regular basis. In some places in the world, some currencies are considered stronger than others. There are also countries whereby their highest currency is not more than 20 whereas some developing countries, there lowest currency starts from 1000 and beyond. Alot of people believe that US dollar and Sterling pounds not only the strongest currency in the world, but have great influence other the other currencies. This mythology
West African countries have one of the most dominating and valuable economies not only in their region, but also in the whole of Africa. As per the latest tally on the currency ranks, 3 west African countries currencies dominate the list of the most powerful economies and currencies in Africa. These countries include Libya, Tunisia, Ghana and Morroco. 1. Libyan Dinar. (1 USD=LD 1.41) This is the strongest currency in West Africa and in the African continent compared to other countries currencies. 1 Libyan Dinar
Kenya has seen it currency lose value day by day with the current data showing the Dollar Kenya shilling exchange rate as Ksh110.05 per US dollar. This doesn't make our currency any more weaker compared to those of most countries around the world. The list below introduces you to some countries with most valueless currencies, and which you are a qualified millionaire if you happen to visit them with just Ksh50,000. 3. Vietnam Currency: Vietnam dong(VND) Vietnam takes 3rd position in the list of countries with
In business currency is a very important thing. The value of a certain countries currency is very useful and it indicates how the business of a country is fairing on. In this article it can be clearly be seen that 1 United State dollar is Equal to 109.91 Kenyan Shillings. This rate is somehow good. This exchange rate helps to determine the economic stability of a nation and how the people are able to sustain themselves in a certain country. Whenever people are satisfied with their countries economy then the
There are several young people nowadays who are working their way up. That is when it comes to financial freedom. There's one from south Africa that has an amazing story, this is after him after getting rich at a younger age. The young guy who is currently about 26 years old is such an inspiration to the young generation. Sandile Shenzi became a millionaire at just 23 years. His net worth is valued at 230 million Kenya shillings. Shenzi Venture into the famous forex trading. At just a young age, he decide to
As an aspiring forex trader for a part time job or full time job, strategy is key. Strategizing your plan and your work on how you'll conquer the market wi automatically take you a notch higher than the other traders in the market. Forex on itself is a field in which with proper strategy and knowledge you can cash in some real money. Some tips are; 1) Select your preferred asset for the trade if you're trading in fixed time. Commonly the combination mostly traded in are the USDEUR, EURJPY, USDJPY, GBPUSD. 2)
Since the reign of the novel coronavirus pandemic, Kenya has continued to face quite a couple of challenges. As this happens, the economic progress of the nation has serious deteriorated at a serious note. It's after the circulation of cash in the economy increased after the lending rate of the state increased at an alarming. With this happening, more cash has been brought to the economy despite the claims that it's circulation is restricted among the hands of a few beneficiaries. In addition to this, we had
We as a whole know the maxim, work more efficiently, however could it really be conceivable to work THAT a lot more brilliant? Working just minutes daily and supplanting, Exceeding your present Income? Try not to stress, Its completely lawful and individuals are doing it right now around the globe! Its FOREX Trading, and what you don't have a clue, could be costing a huge number of dollars. Forex represents Foreign Currency Exchange Market, ordinarily alluded to as FOREX, FX, and 4X. You might be comfortable
Forex trading is becoming popular as more individuals joining this trading platform. Those who are beginners you must keep on mind that discipline, knowledge and practice are important key points to help you get more profit in this risky trading. In this article am going to share tricks that will help you gain profit than loss. Choose Trading platform and Broker Taking time in research for good broker and knowing various different of brokers based on there policies and strategy that help them in making in forex
Top 5 Strongest Currencies in Africa. 1st November 2020, Nairobi Kenya. Africa has some of the best and strongest currencies and the countries that makes these list of top 5 currencies have some of the most valuable and highly rated currencies. Therefore in this article, I'll be taking to you about sole of the top 5 strongest currencies in Africa. Below are the countries with the strongest currencies as outlined by the africa.bussinessinsider.com 1)Libyan Dinar. The Libyan Dinar is and has always been ranked
Over the last few days the value of the Kenyan shillings has greatly weakened against the dollar which is the most trusted currency in the world. Today a dollar is traded for shillings 111.43 this has happened over the last few days after the onset of the corona virus pandemic in early march in 2020. The central bank is working day and night to maintain a stable exchange rate but all this is in vain. One of the challenge of the weakening shilling is that it offsets inflation in a country. This is where the prices