UYU to KES

KES - Kenyan Shilling (Ksh)

Kenyan Shilling

The Kenyan Shilling is the official currency of Kenya, an East African nation that lies on the equator, with the Indian Ocean to its south-east. It is bordered by Tanzania to the south, Uganda to the west, South Sudan to the north-west, Ethiopia to the north, and Somalia to the north-east.

The Kenyan Shilling is the currency in Kenya (KE, KEN). The symbol for KES can be written K Sh. The Kenyan Shilling is divided into 100 cents. The exchange rate for the Kenyan Shilling was last updated on May 24, 2019 from Yahoo Finance. The KES conversion factor has 5 significant digits.

Economy

• Kenya has traditionally been a liberal market with minimal government involvement (such as price controls) in the oil industry. However, recent legislation allows the government to establish price controls for staples such as maize flour, kerosene, and cooking oil.
• Since May 2010, the economic outlook has been positive, with 4-5% GDP growth expected due to the expansion of tourism, telecommunications, transportation, and construction, as well as a recovery in the agriculture sector.
• The World Bank predicts 4% growth in 2010 and potential growth of 4.9% in 2011.
• In March, 1996 the presidents of Kenya, Tanzania, and Uganda re-established the East African Community (EAC). The objectives of the EAC include harmonizing tariffs and customs regulations, free movement of people, and improvement of regional infrastructures.
• In March 2004, the three East African countries signed a customs union.

History

• In 1966, the Kenyan Shilling replaced the East African Shilling at par. The first coins were issued that year in denominations of 5, 10, 25, and 50 cents and 1 and 2 shillings.
• Twenty-five cents coins were minted after 1969, and 2-shilling coins in 1971.
• In 1985, 5-shilling coins were introduced, followed by 10-shilling coins in 1994 and 20-shilling coins in 1998.
• Between 1967 and 1978, the portrait of Jomo Kenyatta, Kenya's first president, appeared on the front of the currency.
• From 1980 to 2005, a portrait of Daniel arap Moi replaced Kenyatta.
• In 2005 the central bank introduced a number of new coins that restored the portrait of Kenyatta. The stainless steel coins are valued at 50 cents and 1 shilling and the bimetallic coins at 5, 10, and 20 shillings.
• In 2003, a bi-metallic 40-shilling coin was issued with the portrait of President Kibaki to commemorate the fortieth anniversary of independence (1963-2003).
• New coins with the image of Kenyatta were minted in 2005.

More information about KES - Kenyan Shilling (Ksh)

UYU - Uruguayan Peso ($U)

Uruguayan Peso

The Uruguayan Peso is the official currency of Uruguay. The name has been in use since the European settlement. The present currency was adopted in 1993 and is subdivided into 100 centésimos.

The Uruguayan peso is the currency in Uruguay (UY, URY). The symbol for UYU can be written $U. The Uruguayan peso is divided into 100 centesimos. The exchange rate for the Uruguayan peso was last updated on May 22, 2019 from The International Monetary Fund. The UYU conversion factor has 6 significant digits.

Economy

• The economy of Uruguay is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending.
• In 1603, cattle were introduced in Uruguay before its independence by Hernando Arias de Saveedra, the Spanish Governor of Buenos Aires. In 2006, beef accounted for about 37% of Uruguayan exports.
• Wool is a traditional product exported mainly to America, followed by the UK and India.
• Conaprole, the National Cooperative of Milk Producers, was the main exporter of dairy products in Latin America in 2006.
• Fine varieties of rice are produced in the eastern lowlands, close to Merin lake on the Uruguay-Brazil border.

History

• In 1828, Uruguay's currency was based on the silver Peso of eight reales, commonly known as the Patacon, and the gold onza de oro, valued at 16 pesos silver. A large quantity of debased copper coin also circulated.
• In October, 1828, lacking the means to implement a national coinage, Gen. Jose Rondeau’s provisional government permitted foreign silver and gold coin to circulate freely at their intrinsic value, but restricted and later (1829) prohibited the importing of copper coins and the circulation of Buenos Aires banknotes.
• A key characteristic of the currency is its instability, which increased in the spring of 2002.
• Uruguayans have become accustomed to the constant devaluation and instability of their currency, and have developed a fitting lingo – calling periods of Dollar appreciation atraso cambiario ("the exchange rate is running late").

More information about UYU - Uruguayan Peso ($U)