Daily Market Update
MARKET UPDATE FOR 4th June 2025
LOCAL MARKET
USD/KES
The Kenya shilling was unchanged against the dollar on Tuesday as manufacturers’ demand for foreign currency ebbed away.
Expected range today is 127.00 -132.00
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 127.00 | 132.00 | ||
| GBP | 1.3360 | 1.3764 | 169.67 | 181.68 |
| EUR | 1.1214 | 1.1516 | 142.42 | 152.01 |
| JPY | 142.72 | 145.76 | 0.8713 | 0.9249 |
| ZAR | 16.370 | 19.380 | 6.55 | 8.06 |
| CHF | 0.8192 | 0.8296 | 153.09 | 161.13 |
| CAD | 1.3670 | 1.3775 | 92.20 | 96.56 |
| KES/UGX | 3587 | 3697 | 27.17 | 29.11 |
| KES/TZS | 2620 | 2760 | 19.85 | 21.73 |
MONEY MARKET
CBK analysis on Tuesday showed excess liquidity in the market. The regulator was therefore in the market to mop up Kes 120Bn in 1, 6, 13 and 20 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 | 19,200.95 | 9,773.86 | 26,134.08 |
| Amount Accepted | 19,196.07 | 8,808.97 | 15,688.45 |
| Current Rate | 8.2927% | 8.5642% | 10.0000% |
| Previous Rate | 8.3231% | 8.5750% | 10.0026% |
GLOBAL MARKETS
Most Asian stocks rose on Wednesday amid growing hopes that U.S. and Chinese leaders will speak this week and revitalize stalled trade talks between the two countries. The DXY rose further to 99.29.
The EUR/USD moves little after registering losses in the previous session, trading around 1.1380 during the Asian hours on Wednesday. The pair may appreciate as the US Dollar (USD) struggles due to traders’ caution amid rising tariff uncertainty and its potential to hurt growth in the US economy. Job Openings and Labor Turnover Survey (JOLTS) Job Openings posted 7.39 million new positions in April, higher than March’s 7.2 million openings. This figure surprisingly came in above the market expectation of 7.1 million.
The GBP/USD edges higher after registering losses in the previous session, trading around 1.3520 during the Asian hours on Wednesday. The pair may appreciate as the US Dollar (USD) attracts sellers under the “Sell America” trend amid rising tariff uncertainty, which could hurt growth in the US economy. The Bank of England (BoE) officials appeared before Parliament to share details of the central bank’s policy outlook during the Monetary Policy Report Hearings.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 3.8% | ||
| KES CBR | 10.00% | ||
| GBP BOE RATE | 4.25% | ||
| EUR ECB RATE | 2.40% | ||
| USD FED RATE | 4.50% | ||
| SOFR O/N RATE | 4.33%, 2.167%, 4.2104% | ||
| BRENT OIL ($/BARREL) | 65.38 | ||
| MURBAN CRUDE ($/BARREL) | 63.14 | ||
For firm quotes and more information on other treasury products kindly contact our treasury team
Treasury team: Milton Onyuna, Martin Githinji, Lorna Kageni, Musa Ongori,
Dennis Ingolo, Elizabeth Kiarie, Brian Gachanja and Oliver Kilonzo.
Telephone Contacts: 020 3275 XXX; EXT.244/558/257/185/378/245/221/526
Mobile Lines: 0703 058 XXX; EXT.244/558/257/185/378/245/221/526
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.