Daily Market Update
MARKET UPDATE FOR 16th March 2026
LOCAL MARKET
USD/KES
The Kenya shilling was stable against the US Dollar on
Friday, market data showed.
Expected range today is 126.50 -131.50
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 126.50 | 131.50 | ||
| GBP | 1.3101 | 1.3504 | 165.73 | 177.58 |
| EUR | 1.1288 | 1.1590 | 142.79 | 152.41 |
| JPY | 157.84 | 160.89 | 0.7863 | 0.8331 |
| ZAR | 15.350 | 18.359 | 6.89 | 8.57 |
| CHF | 0.7849 | 0.7954 | 159.04 | 167.54 |
| CAD | 1.3664 | 1.3768 | 91.88 | 96.24 |
| KES/UGX | 3705 | 3815 | 28.17 | 30.16 |
| KES/TZS | 2540 | 2690 | 19.32 | 21.26 |
MONEY MARKET
CBK analysis on Friday showed excess liquidity in the
market. The regulator was therefore in the market to
mop Kes 50Bn in 1, 5, and 10 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 | 4,979.65 | 7,894.51 | 30,873.41 |
| Amount Accepted | 4,954.13 | 7,894.51 | 19,422.49 |
| Current Rate | 7.5636% | 7.8457% | 8.4805% |
| Previous Rate | 7.5795% | 7.8216% | 8.6434% |
GLOBAL MARKETS
Asian markets were in a wary mood on Monday as hostilities in the Gulf kept oil prices elevated, clouding an
inflation outlook that should keep most central banks on
pause at policy meetings this week, and probably leading one to hike.
The EUR/USD pair remains on the defensive around
1.1430 during the early Asian session on Monday.
However, the potential upside for the major pair might
be limited as escalating Middle East tensions could
boost safe-haven flows. Any signs of rising geopolitical
risks in the Middle East could boost safe-haven currencies such as the US Dollar (USD) and act as a headwind
for the major pair in the near term.
The GBP/USD gains momentum around 1.3255 during
the early European session on Monday, bolstered by a
weaker USD. The major pair currently trades near its
lowest since December 2025. Traders might turn cautious ahead of the US Fed and the BoE interest rate decisions later this week. The Fed is widely expected to
hold the benchmark federal funds rate steady at its current range of 3.50%–3.75% during its upcoming March
meeting on Wednesday. Due to persistent inflation risks,
many analysts have pushed back expectations for the
next rate cut to September. Source: Reuters
| RNATIONAL BENCHMARK RATES | |||
| Local Inflation | 4.3% | ||
| KES CBR | 8.75% | ||
| GBP BOE RATE | 3.75% | ||
| EUR ECB RATE | 2.15% | ||
| USD FED RATE | 3.75% | ||
| SOFR O/N RATE | 3.65%, 1.931%, 3.7278% | ||
| BRENT OIL ($/BARREL) | 104.17 | ||
| MURBAN CRUDE ($/BARREL) | 97.10 | ||
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.