The appreciation of the Kenyan shilling against the US dollar has resulted in a welcome decrease in US visa application fees for Kenyans.
Previously, visa fees had reached a record high of Sh 31,450. However, due to the currency fluctuation, they have now been reduced to Sh 27,750. The US charges a standard fee of USD 185 for non-petition-based nonimmigrant visas, encompassing categories like business and tourism visits, medical travel, student visas, and academic exchanges. Based on this fee, the exchange rate used for calculating the visa cost in Kenyan shillings would typically be around 170 Shillings to the dollar.
However, the current fee of Sh 27,750 suggests the US embassy is now employing an exchange rate closer to 150 Shillings per dollar. It’s important to note that this rate remains higher than the official and commercial exchange rates set by the Central Bank of Kenya, which stood at 134.5843 Shillings per US dollar as of March 18, 2024. With the current fee settled at Sh 24,900, it appears that further strengthening of the Kenyan shilling against the US dollar could lead to additional reductions in visa application costs. This would be a positive development for Kenyans seeking to travel to the United States.
According to economists, the strengthening Shilling presents a double-edged sword for the Kenyan economy. On the one hand, it offers a clear benefit to Kenyans who travel internationally or enjoy imported goods. These products become more affordable as the Shilling appreciates in value relative to the dollar. Tourists visiting Kenya will also find their travel dollars stretching further. On the other hand, Kenyan exporters face a potential challenge. A stronger Shilling can lead to their products becoming relatively more expensive in the global marketplace, thereby hindering their competitiveness. This recent appreciation follows a long period of depreciation for the Shilling.
