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COSTS, MONEY AND BANKS |
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Kenya's currency, the Kenyan shilling (Ksh), is a colonial legacy
based on the old British currency. People often talk in "bob", meaning
shillings, and occasionally in "pounds", meaning Ksh20 (you'll also hear
"quids" for pounds). There are Ksh1000, 500, 200, 100 and 50 notes, and
coins of Ksh20, 10, 5, 1, 50 cents (half a shilling), 20 cents, 10 cents
and 5 cents, though in practice you will rarely come across coins of
less than Ksh1. Some foreign banks stock shillings should you wish to
buy some before you leave, but at rates about ten percent less than what
you might find in Kenya.
At the time of writing, the rates of exchange were approximately Ksh110:
£1 and Ksh78: $1. Street money changers in Nairobi and Mombasa may offer
slightly higher rates, but the black market is illegal, and most of them
(certainly in Nairobi) are just muggers aiming to lure you into a dark
alley and rob you, so you are very strongly advised not to change money
on the street
Costs
Most prices in this guide are given in Kenyan shillings, however, we've
given prices in US$ for those establishments, especially tourist
services such as safaris and car rental, which still quote their rates
in the "hard" dollar . Almost all the more expensive hotels and lodges
also charge non-Kenyans in dollars, though you are legally entitled to
pay in Ksh, usually at inferior rates of exchange.
Kenya can be expensive if you want to rent a car or go on organized
safaris, especially in high season. But by staying in the more
economical hotels, eating in local places and using public transport,
you can get by easily enough on £12/$17 a day. On a daily average budget
of £25/$35, you would be living very well most of the time, even staying
in the occasional more luxurious tourist hotel.
Staying put you'll find it much easier to live cheaply: a week or so in
Lamu on the coast or Lake Naivasha in the Rift Valley need not cost you
much more than £10/$14 a day.
Getting around by bus and matatu is very cheap (rarely more than £5/$7
for the longest journey), but the main disadvantage is that they can't
drive you around the game parks. Renting a vehicle - and paying for fuel
- will add at least £50/$70 a day to your costs, though shared between
two or more this isn't massively expensive for a week or so. You can
also find all-inclusive camping safaris from around £50/$70 a day,
sometimes even less, but many of the very cheap ones are organized by
disreputable companies and undermine legitimate operators and the
preservation of wildlife
Money
You can exchange hard currencies in cash or travellers' cheques (passport
and sometimes receipt required) at banks and foreign exchange bureaux ("forex")
all over the country, and at most large hotels for a substantially
poorer rate. US dollars and British pounds sterling are always the most
acceptable and will cause the least delay; always ask first what
commission and charges will be deducted, as they vary mysteriously even
within branches of the same bank (it shouldn't be more than one percent,
plus Ksh15 per cheque). Cash invariably attracts better rates than
travellers' cheques. Comparative tables of bank and forex bureau rates
are published daily (except Sun) in the Nation newspaper.
Banks
Banks in cities are usually open Monday to Friday (9am-3pm) and on the
first and last Saturday of the month from 9 to 11am. Rural banks, and
those in small towns, are generally open Monday to Friday
(8.30am-2.30pm), and every Saturday (8.30-10.30am).
Branches of Barclays and the Commercial Bank of Africa, as well as forex
bureaux (which are open longer hours), are normally fastest, and
Standard Chartered is also reasonable. The Kenya Commercial Bank (KCB)
is ubiquitous but usually slow and in places charges outrageous
commission (fifteen percent). In out-of-the-way places, you may have to
wait till 10am to change money, as the rates take ages being sent up
from Nairobi. Lastly, if a clerk is being unhelpful or otherwise
difficult, a polite but firm demand to see the manager can work miracles
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