Currency & Money Matters in Kenya

Introduction

When traveling to Kenya, understanding the local currency, exchange rates, and payment options can help you budget effectively and avoid unnecessary financial stress. Whether you’re exploring the savannahs of the Maasai Mara, the beaches of Diani, or the bustling streets of Nairobi, knowing how to handle money will make your trip smoother.

This guide covers everything you need to know about Kenyan currency, exchange tips, payment methods, and budgeting.

Kenyan Currency

The Basics

• Official currency: Kenyan Shilling (KES)
• Symbol: KSh or /=
• Denominations:
  • Banknotes: 50, 100, 200, 500, and 1,000 KSh
  • Coins: 1, 5, 10, 20, and 40 KSh

Exchange Rates

• The exchange rate fluctuates, so check current rates before you travel.
• 1 USD = approximately 160–165 KES (rates may vary).
• Euros, British Pounds, and major foreign currencies are widely accepted for exchange.

Where to Exchange Money

Banks

• Most reliable option for exchanging foreign currency.
• Available in cities and towns, with better rates than airports and hotels.
• Open Monday to Friday (8:30 AM – 4:00 PM), with some open on Saturdays.

Forex Bureaus

• Found in major cities, airports, and shopping centers.
• Often better rates than banks, but compare different bureaus before exchanging.
• Open longer hours, including weekends.

ATMs

• Widely available in urban areas but limited in rural areas.
• Accept major international cards (Visa, Mastercard).
• Withdrawal limits: KSh 10,000–40,000 per transaction (varies by bank).
• Some ATMs charge foreign transaction fees.

Airports & Hotels

• Convenient but offer lower exchange rates and higher fees.
• Good for small amounts if arriving late at night.

Currency Exchange Tips

• Avoid exchanging money on the street to prevent scams.
• Always count your money before leaving the exchange counter.
• Keep receipts in case you need to exchange leftover KSh back to your home currency.

Payment Methods in Kenya

Cash vs. Card

• Cash is essential, especially for small purchases, markets, and rural areas.
• Credit/debit cards are widely accepted in hotels, shopping malls, and high-end restaurants but not in local markets.
• ATMs are common, but always have some cash as a backup.

Mobile Money (M-Pesa)

• M-Pesa is the most popular payment method in Kenya.
• Used for everything from paying for groceries to taxi rides.
• Tourists can use M-Pesa by getting a local SIM card (Safaricom) and loading money onto their account.

Credit & Debit Cards

• Visa and Mastercard are widely accepted; American Express is less common.
• Card payments are common in supermarkets, malls, and major restaurants.
• Always check if a place accepts cards before ordering or shopping.

Tipping Culture

• Not mandatory, but appreciated in restaurants, hotels, and safari lodges.
• 10% tip is common for good service.
• Tour guides and drivers often expect tips—$5–$10 per day is standard.

Budgeting & Costs in Kenya

Daily Budget Estimates

• Budget travelers: $30–$60 per day (hostels, street food, matatus).
• Mid-range travelers: $80–$200 per day (hotels, restaurants, taxis, park entry).
• Luxury travelers: $300+ per day (safaris, private game lodges, fine dining).

Common Expenses

• Meals:
  • Street food: KSh 200–500 ($1.50–$4)
  • Local restaurants: KSh 500–1,500 ($4–$12)
  • Fine dining: KSh 3,000+ ($25+)
• Transportation:
  • Matatu (shared minibus): KSh 50–300 ($0.50–$2)
  • Taxi/Uber: KSh 500–2,000 ($4–$15)
  • Domestic flights: $100+
• Safari Costs:
  • National park entry: $40–$80 per day
  • Safari lodge: $150–$1,000+ per night
• Accommodation:
  • Budget hostels: $10–$40 per night
  • Mid-range hotels: $50–$150 per night
  • Luxury resorts: $300+ per night

Money Safety Tips

• Use ATMs in secure locations (banks, shopping malls).
• Carry small denominations for street vendors and taxis.
• Avoid displaying large amounts of cash in public.
• Keep emergency cash separate from your main wallet.
• Use money belts or hidden pouches for security.

Conclusion

Kenya is an exciting destination, and understanding how to handle money efficiently will make your trip smoother. Whether you’re exchanging currency, using M-Pesa, or budgeting for activities, having a good grasp of Kenya’s financial system ensures a hassle-free travel experience.With the right preparation, you can enjoy Kenya’s wildlife, culture, and landscapes without financial surprises.