Daily Market Update
MARKET UPDATE FOR 19th November 2025
LOCAL MARKET
USD/KES
The Kenya shilling moved slightly against the dollar on Tuesday, market data showed.
Expected range today is 127.00 -132.00
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 127.00 | 132.00 | ||
| GBP | 1.2991 | 1.3395 | 164.99 | 176.81 |
| EUR | 1.1436 | 1.1738 | 145.24 | 154.94 |
| JPY | 153.81 | 156.86 | 0.8096 | 0.8582 |
| ZAR | 15.667 | 18.674 | 6.80 | 8.43 |
| CHF | 0.7946 | 0.8047 | 157.82 | 166.12 |
| CAD | 1.3945 | 1.4046 | 90.42 | 94.66 |
| KES/UGX | 3560 | 3670 | 26.97 | 28.90 |
| KES/TZS | 2350 | 2515 | 17.80 | 19.80 |
MONEY MARKET
CBK analysis on Tuesday showed excess liquidity in the market. The regulator was therefore in the market to mop KES 50Bn in 1, 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 | 6,540.16 | 3,690.55 | 20,310.15 |
| Amount Accepted | 6,484.76 | 3,688.80 | 20,264.47 |
| Current Rate | 7.7865% | 7.7934% | 9.3574% |
| Previous Rate | 7.7919% | 7.7934% | 9.3454% |
GLOBAL MARKETS
Asian currencies edged lower on Wednesday, led by losses in the South Korean won and Australian dollar, as investors awaited the delayed U.S. jobs report and weighed uncertainty around the Fed’s rate outlook. Market participants are watching closely for signals on labor market strength and wage pressures. A weaker-thanexpected reading could boost hopes for a Fed rate cut.
The EUR/USD moves little after three days of losses, trading around 1.1580 during the Asian hours on Wednesday. The pair may further lose ground as the USD gains amid declining US Fed rate cut bets for December. The highly anticipated September NFP data are scheduled to be released on Thursday. Euro attempts to hold ground against the US Dollar due to the cautious sentiment surrounding the near-term ECB monetary policy outlook. The ECB is widely expected to keep rates unchanged, supported by stable economic performance and inflation near target.
The GBP/USD remains subdued for the fourth consecutive session, trading around 1.3130 during the Asian hours on Wednesday. Any moderation in UK price pressures, combined with a softening labor market and slowing GDP growth, would reinforce expectations of a December rate cut by the BoE, putting additional pressure on the GBP.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 4.6% | ||
| KES CBR | 9.25% | ||
| GBP BOE RATE | 4.00% | ||
| EUR ECB RATE | 2.15% | ||
| USD FED RATE | 4.00% | ||
| SOFR O/N RATE | 4.00%, 1.929%, 3.9692% | ||
| BRENT OIL ($/BARREL) | 64.76 | ||
| MURBAN CRUDE ($/BARREL) | 60.55 | ||
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.