Development of Forex Bureaus in Kenya and Their Impact on Exchange Rate Against The Us Dollar

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dc.contributor.authorKositany, Jane C.
dc.contributor.authorCheruiyot, Peter Kimutai
dc.contributor.authorYegon, Charles Kiprotich
dc.date.accessioned2024-09-23T07:49:40Z
dc.date.available2024-09-23T07:49:40Z
dc.date.issued2016
dc.descriptionJournal Article
dc.description.abstractThis study examined the relationship between the development of Forex Bureaus and the exchange rate of the US dollar in Kenyan financial market. It was conducted in Nairobi from November 2005 to January 2006, and data was collected using questionnaires. The questionnaires were distributed to a number of foreign exchange bureaus in Nairobi with the purpose of analysing their development over the years since they were first incorporated in 1995 to date. The main purpose of the study was therefore to analyse the development of foreign exchange bureaus and determine their impact on exchange rates. From the study, the researchers were able to conclude that there is a weak positive relationship between the development of foreign exchange bureaus and the exchange rates in the economy. This was evidenced \ by the fact that 57.14% of the respondents agreed that there was a positive correlation while 42.86% of the respondents disagreed that there was any relationship
dc.identifier.citationKositany, J. C., Cheruiyot, P. K., & Yegon, C. K. (2016). Development of Forex Bureaus in Kenya and Their Impact on Exchange Rate Against The Us Dollar. International Journal of Economics, Commerce and Management
dc.identifier.issn2348 0386
dc.identifier.urihttps://repository.daystar.ac.ke/handle/123456789/5192
dc.language.isoen
dc.publisherInternational Journal of Economics, Commerce and Management
dc.relation.ispartofseries4(6)
dc.subjectForex Bureaus
dc.subjectExchange Rates
dc.subjectUS Dollar
dc.subjectSpot transaction
dc.subjectKenya Shilling
dc.titleDevelopment of Forex Bureaus in Kenya and Their Impact on Exchange Rate Against The Us Dollar
dc.typeArticle

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