Daily Market Update
MARKET UPDATE FOR 10th December 2025
LOCAL MARKET
USD/KES
The Kenya shilling was stable 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 | 1.3154 | 1.3561 | 167.06 | 179.01 |
| EUR | 1.1478 | 1.1779 | 145.77 | 155.48 |
| JPY | 155.10 | 158.14 | 0.8031 | 0.8511 |
| ZAR | 15.542 | 18.551 | 6.85 | 8.49 |
| CHF | 0.8009 | 0.8112 | 156.56 | 164.81 |
| CAD | 1.3801 | 1.3905 | 91.33 | 95.65 |
| KES/UGX | 3485 | 3600 | 26.40 | 28.35 |
| KES/TZS | 2370 | 2530 | 17.95 | 19.92 |
MONEY MARKET
CBK analysis on Tuesday showed excess liquidity in the market. The regulator was in the market for Kes 70Bn in 1 and 6 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 | 8,487.84 | 14,003.10 | 30,365.19 |
| Amount Accepted | 8,480.17 | 13,994.85 | 17,880.70 |
| Current Rate | 7.7798% | 7.8178% | 9.3681% |
| Previous Rate | 7.7789% | 7.8000% | 9.3759% |
GLOBAL MARKETS
Asian shares and Wall Street futures gave ground on Wednesday as crunch time neared for a divided Federal Reserve policy board, and earnings results threatened to test sky-high valuations in the AI space.
The EUR/USD trades flat around 1.1625 during the early European session on Wednesday. Markets turn cautious ahead of the US Federal Reserve (Fed) interest rate decision later on Wednesday, in which a 25 basis points (bps) rate cut is almost fully priced in. The European Central Bank (ECB) has adopted a cautious approach to monetary policy, suggesting a pause in the rate-cutting cycle for now. This, in turn, could provide some support to the shared currency against the USD.
The GBP/USD drops below the key support level seen at the 200-day Simple Moving Average (SMA) of 1.3331 and weakens by some 0.21% on Tuesday as traders brace for the policy decision of the Federal Reserve (Fed) on Wednesday. At the time of writing, the pair trades below 1.3300 after reaching a high of 1.3356. Bank of England (BoE) members remained worried about high inflation. Swati Dhingra, a renowned dove, expressed concerns about food costs despite the ongoing disinflation.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 4.5% | ||
| KES CBR | 9.00% | ||
| GBP BOE RATE | 4.00% | ||
| EUR ECB RATE | 2.15% | ||
| USD FED RATE | 4.00% | ||
| SOFR O/N RATE | 4.12%, 1.930%, 3.9702% | ||
| BRENT OIL ($/BARREL) | 62.03 | ||
| MURBAN CRUDE ($/BARREL) | 58.34 | ||
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.