Daily Market Update
MARKET UPDATE FOR 30th May 2025
LOCAL MARKET
USD/KES
The Kenya shilling held steady against the dollar on Thursday.
Expected range today is 127.00 -132.00
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 127.00 | 132.00 | ||
| GBP | 1.3290 | 1.3698 | 168.78 | 180.81 |
| EUR | 1.1102 | 1.1404 | 141.00 | 150.53 |
| JPY | 144.21 | 147.23 | 0.8626 | 0.9153 |
| ZAR | 16.449 | 19.463 | 6.53 | 8.02 |
| CHF | 0.8270 | 0.8371 | 151.71 | 159.61 |
| CAD | 1.3793 | 1.3897 | 91.39 | 95.70 |
| KES/UGX | 3588 | 3698 | 27.18 | 29.12 |
| KES/TZS | 2620 | 2775 | 19.85 | 21.85 |
MONEY MARKET
CBK analysis on Thursday showed excess liquidity in the market. The regulator was therefore in the market to mop up Kes 30Bn in 1 and 7 day repo 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
The USD softened on Friday, heading for its fifth-straight monthly decline as traders braced for further bouts of uncertainty around trade and fiscal health, while investors awaited a pivotal inflation report later in the day. The uncertainty around tariffs has taken a vice-like grip on the markets as investors flee U.S. assets looking for alternatives, worried that Trump’s erratic policies could challenge the strength and outperformance of U.S. markets.
The EUR/USD pair struggles to capitalize on the previous day’s solid bounce from the 1.1200 neighborhood, or a one-and-a-half week low, and trades with a mild negative bias during the Asian session on Friday. Spot prices currently hover around the mid-1.1300s, down nearly 0.15% for the day, though the downside remains cushioned.
The GBP/USD made a choppy relief rally on Thursday, jumping back into the 1.3500 handle as markets gear up for the latest batch of United States (US) Personal Consumption Expenditure (PCE) inflation figures due on Friday. The DXY, which tracks the Greenback’s value against six major currencies, slides to near 99.70, which went around 100.50 earlier in the day.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 4.1% | ||
| 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 ($/BARREL) | 63.06 | ||
| MURBAN CRUDE ($/BARREL) | 62.64 | ||
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.