Kenya's Exchange Rates Aligned with Economic Fundamentals Despite Global Crises.
The study looked at how the real exchange rate in Kenya was off balance from 2000 to 2014. They used a method called Behavioral Equilibrium Exchange Rate to figure out how much the exchange rate was off. The results showed that the real exchange rate mostly followed economic basics. It was usually in line with where it should be, except during big economic crises like the global financial crisis and the Euro zone crisis. Because Kenya has a managed float system, exchange rates change to match the economy.