Daily Market Update
MARKET UPDATE FOR 18th September 2025
LOCAL MARKET
USD/KES
The Kenya shilling remained stable against the dollar on Wednesday, market data showed.
Expected range today is 127.00 -132.00
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 127.00 | 132.00 | ||
| GBP | 1.3454 | 1.3855 | 170.87 | 182.89 |
| EUR | 1.1643 | 1.1944 | 147.87 | 157.66 |
| JPY | 145.74 | 148.75 | 0.8538 | 0.9057 |
| ZAR | 15.957 | 18.965 | 6.70 | 8.27 |
| CHF | 0.7856 | 1.7960 | 159.55 | 168.02 |
| CAD | 1.3739 | 1.3843 | 91.74 | 96.08 |
| KES/UGX | 3445 | 3555 | 26.10 | 27.99 |
| KES/TZS | 2395 | 2545 | 18.14 | 20.04 |
MONEY MARKET
CBK analysis on Wednesday showed excess liquidity in the market. The regulator was in the market for Kes 70Bn in 1, 7 and 12 days TAD in order to remain within the monetary policy path set by the MPC.
| LOCAL MONEY MARKET | |||
| TREASURY BILLS AND BONDS (MIO KES) | |||
| Tenor | 91-day | 182-day | 364-day |
| Amount Offered | 4,000.00 | 10,000.00 | 10,000.00 |
| Bids Received | 15,407.4 | 3,127.10 | 20,232.58 |
| Amount Accepted | 14,728.5 | 3,127.10 | 11,057.63 |
| Current Rate | 7.9716% | 8.0194% | 9.5483% |
| Previous Rate | 7.9865% | 8.0331% | 9.5790% |
GLOBAL MARKETS
Most Asian currencies moved in a tight range on Thursday, while the USD steadied from mild overnight gains as markets digested a largely in-line interest rate cut and outlook from the U.S. Fed. Broader Asian currencies steadied after gaining some ground this week, as growing conviction in lower U.S. interest rates dented the dollar. But the greenback firmed after the Fed’s Wednesday decision and was steady in Asian trade.
The EUR/USD pair holds steady around 1.1815 during the Asian trading hours on Thursday. The US Dollar (USD) trades flat against the Euro (EUR) following its plunge to a three-and-a-half-year low as traders assess the Federal Reserve’s (Fed) rhetoric on further interest rate cuts. Traders await the speech from the European Central Bank (ECB) Christine Lagarde later on Thursday. The Fed reduced rates by 25 basis points (bps) at its September meeting on Wednesday, as widely expected, and signaled it will steadily lower borrowing costs for the rest of this year.
The GBP/USD surges during the North American session after the Federal Reserve (Fed) cut rates by 25 basis points as expected, and eyes further rate reductions towards the year-end. At the time of writing, the pair trades within the 1.3650 – 1.3700 range as traders await Fed Chair Powell’s press conference.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 4.5% | ||
| KES CBR | 9.50% | ||
| GBP BOE RATE | 4.00% | ||
| EUR ECB RATE | 2.15% | ||
| USD FED RATE | 4.25% | ||
| SOFR O/N RATE | 4.39%, 1.926%, 3.9673% | ||
| BRENT OIL ($/BARREL) | 67.72 | ||
| MURBAN CRUDE ($/BARREL) | 63.79 | ||
For firm quotes and more information on other treasury products kindly contact our treasury team
Treasury team: Milton Onyuna, Martin Githinji, Calvince Amallah, Elizabeth Kiarie, Dennis Ingolo and Oliver Kilonzo.
Telephone Contacts: 020 3275 XXX; EXT.244/558/526/221/245/378
Mobile Lines: 0703 058 XXX; EXT.244/558/526/221/245/378
Email: dealing@boakenya.com
Disclaimer
Whilst every care has been taken in compiling this market update, the Bank will not be responsible for any and shall be exempt from all liabilities in respect of any loss of any kind whatsoever, incurred by any persons as a consequence of relying on the above information or otherwise.