Samatha Catt
The Kenyan shilling has held stable against the US dollar and made slight gains against the Euro and the British pound The Central Bank of Kenya has maintained sufficient US foreign exchange US dollar reserves to cover 4.7 months of imports Exness market analyst, Terence Hove, told TUKO.co.ke that the Kenyan shilling is not expected to make major gains against the US dollar in the near future Elijah Ntongai, an editor at TUKO.co.ke, has over four years of financial, business, and technology research and reporting experience, providing insights into Kenyan, African, and global trends.
The Kenyan shilling has remained stable against major international currencies.
A man in red long sleeve shirt holding kenyan shilling notes in opened palms. Inset, CBK governor Kamau Thugge. Photo: Rodworks via Getty Images/ Treasury.
Source: UGC In the week ending September 25, 2025, the shilling showed slight appreciation against the euro and the British pound while holding firm against the US dollar.
Kenyan shilling exchange rates According to Central Bank of Kenya data, the shilling exchanged at an average of KSh 129.26 per U.S. dollar on September 25 a slight movement in the greenback rates.
“The Kenya shilling remained stable against major international and regional currencies during the week ending September 25, 2025. It exchanged at KSh 129.26 per U.S. dollar on September 25, compared to KSh 129.24 per U.S. dollar on September 18,” CBK stated in the weekly bulletin. Against the euro, the shilling strengthened to an average of KSh 152.02 in the week of September 19–25, down from KSh 152.28 the previous week.
The shilling gained from KSh 153.19 on September 18 to KSh 151.71 on September 25 according to the CBK indicative rates.
Similarly, it gained against the Sterling Pound, appreciating to an average of KSh 174.45 from KSh 175.93 recorded a week earlier.
The shilling’s stability against the dollar underscores monetary policy measures and a steady supply of foreign exchange.
Kenya’s foreign exchange reserves Notably, the performance of the Kenyan shilling has been buoyed by the sufficient forex reserves maintained by CBK.
“The usable foreign exchange reserves remained adequate at USD 10,735 million (4.7 months of import cover) as of September 25. This meets the CBK’s statutory requirement to endeavour to maintain at least 4 months of import cover,” CBK said. Kenyan shilling’s exchange rates. Photo: CBK.
Source: UGC US dollar outlook The US Bureau of Economic Analysis has released the Personal Consumption Expenditures (PCE) Price Index, which is one of the economic indicators that influence the performance of the US dollar.
According to Terence Hovem, senior market analyst at Exness, the US dollar is holding firm post the PCE and the Kenyan shilling is not expected to make any major gains against the greenback.
“The USD/KES outlook is favouring a steady to mildly bullish US dollar, with the Kenyan shilling depreciation expected to remain gradual barring new policy surprises or global shifts. The US dollar is being supported by resilient US economic data and a cautious but yet patient Fed rate path, especially after the recent PCE inflation report met expectations. The Kenyan shilling is benefiting from month-end FX inflows and moderated domestic inflation but faces ongoing importer demand for dollars and guarded investor sentiment limiting any rally,” Hove opined. Has the Kenyan shilling weakened? In other news, the Kenyan shilling has weakened against regional currencies in September 2025.
The shilling hit a more than one-year low against the Ugandan shilling and lost ground to the Tanzanian shilling amid stronger performances by both East African units.
Central Bank of Kenya data showed the shilling trading at USh 27.10 on September 19, down 5.4% from July 2024 and 4.7% since the start of 2025, as the Ugandan shilling gained against both the Kenyan currency and the US dollar.
Source: TUKO.co.ke
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