Mombasa Foreign ExchangeUm ... Mombasa Foreign Exchange. Is my heading for this page too bland? Well, money talk is serious stuff so I don't want to beat about the bush (although this is not a play of words, we'll have plenty of virtual bush opportunities - in the Maasai Mara and other national parks - on this website!). Back to our subject of forex ...
... credit card and travelers' check usage is not as widespread in Kenya as it is in the developed world so you will need to get hold of some local currency if (as you must), you plan to explore the world outside your hotel.
Kenya CurrencyThe Kenya currency is the Kenyan Shilling and the bank notes come in denominations of 1000, 500, 200, 100 and 50 ...
... while the coins are in denominations of 20, 10, 5, 1 and 50 cents although you probably wont get to use or even see the latter on your safari.
Exhange RatesThese are the indicative rates for the Kenyan shilling against the major currencies:
For updated rates on these and other major currencies, please visit the Central Bank of Kenya website www.centralbank.go.ke/rates/exchangeindex.asp.
Forex BureausIt is safest to carry out all your foreign exchange transactions in a licensed outlet namely; a forex bureau or bank. Don't be baited by the higher rates street vendors offer you as the risks both to your safety and of ending up with less or counterfeit money is very real.Forex bureaus the most conspicuous of which is Fort Jesus Forex Bureau next to (you're right!) Fort Jesus consistently offer better rates than hotels and banks as the latter always charge FAT commissions on all transactions. In a sense therefore, forex bureaus are the lifeblood of the Mombasa foreign exchange market. It is also much easier, in a forex bureau than a bank, to bargain for better rates than those displayed on the board, particularly if you are trading over US$ 500 or its equivalent. Travelers' checks and notes smaller than US$ 50 will fetch you a lower rate. And, if you plan to cash travelers' checks, remember to carry your receipt and passport with you as nearly all cashiers will demand to see them.
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