Daily Market Update
MARKET UPDATE FOR 3rd July 2026
LOCAL MARKET
USD/KES
The Kenya shilling was stable against the US dollar on Thursday, market data showed.
Expected range today is 126.50 -131.50
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 126.50 | 131.50 | ||
| GBP | 1.3222 | 1.3625 | 167.26 | 179.17 |
| EUR | 1.1302 | 1.1603 | 142.97 | 152.58 |
| JPY | 159.49 | 162.53 | 0.7783 | 0.8245 |
| ZAR | 14.702 | 17.704 | 7.15 | 8.94 |
| CHF | 0.7969 | 0.8072 | 156.71 | 165.01 |
| CAD | 1.4110 | 1.4213 | 89.00 | 93.20 |
| KES/UGX | 3610 | 3720 | 27.45 | 29.41 |
| KES/TZS | 2560 | 2695 | 19.47 | 21.30 |
MONEY MARKET
CBK analysis on Thursday showed excess liquidity in the market. The regulator was therefore in the market to mop Kes 70Bn in 6 and 13 day 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 | 25,614.06 | 2,485.19 | 7,092.09 |
| Amount Accepted | 16,125.52 | 1,521.22 | 7,083.83 |
| Current Rate | 8.8347% | 8.9616% | 8.9953% |
| Previous Rate | 8.8275% | 8.8438% | 8.9932% |
GLOBAL MARKETS
Stocks rose during the Asian trading session on Friday after a lukewarm U.S. jobs report poured cold water on the prospect of an imminent rate hike from the Federal Reserve and regional activity gauges pointed to an economic expansion during June.
The EUR/USD pair attracts some dip-buyers during the Asian session on Friday, stalling the previous day’s modest pullback from the 1.1470-1.1475 region, or a nearly two week high. Spot prices currently trade just below mid -1.1400s and seem poised to register gains for the first time in three weeks as receding US Fed Reserve rate hike bets keep the USD depressed.
The GBP/USD pair trades in a positive territory around 1.3360 during the early European session on Friday. The GBP gathers strength against the USD on a weaker-thanexpected US Non Farm Payrolls (NFP) report . Traders will watch the developments surrounding UK politics since Keir Starmer stepped down last week.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 6.4% | ||
| KES CBR | 8.75% | ||
| GBP BOE RATE | 3.75% | ||
| EUR ECB RATE | 2.40% | ||
| USD FED RATE | 3.75% | ||
| SOFR O/N RATE | 3.66%, 1.932%, 3.7299% | ||
| BRENT OIL ($/BARREL) | 72.33 | ||
| MURBAN CRUDE ($/BARREL) | 69.09 | ||
For firm quotes and more information on other treasury products kindly contact our treasury team
Treasury team: Martin Githinji, Calvince Amallah, Elizabeth Kiarie, Philip Wanjiru and Oliver Kilonzo.
Telephone Contacts: 020 3275 XXX; EXT.185/558/526/221/378
Mobile Lines: 0703 058 XXX; EXT.185/558/526/221/378
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.