Nairobi, June 1 -- The Sh1,000 note is entrenching itself at the heart of Kenya's cash economy as notes in circulation surged to Sh388.4 billion after the new currency printing tender.

Latest data from the Central Bank of Kenya (CBK) shows the notes in circulation have grown from Sh278.64 billion in August 2024, coinciding with the award of a currency printing tender to a German firm, Giesecke+Devrient Currency Technologies GmbH.

The rise in the notes also emerged as cash circulating in consumers' pockets or outside banks rose 10.4 percent to Sh323.2 billion in December from Sh292.8 billion in a similar period in 2024 on the back of increased economic activity.

The Sh1, 000 note accounted for about 86.3 percent of the total value of ba...