Daily Market Update
MARKET UPDATE FOR 9th September 2025
LOCAL MARKET
USD/KES
The Kenya shilling remained stable against the dollar on Monday, market data showed.
Expected range today is 127.00 -132.00
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 127.00 | 132.00 | ||
| GBP | 1.3423 | 1.3831 | 170.47 | 182.57 |
| EUR | 1.1625 | 1.1926 | 147.64 | 157.42 |
| JPY | 145.56 | 148.57 | 0.8548 | 0.9068 |
| ZAR | 15.970 | 18.978 | 6.69 | 8.27 |
| CHF | 0.7870 | 0.7974 | 156.27 | 167.73 |
| CAD | 1.3753 | 1.3854 | 91.67 | 95.98 |
| KES/UGX | 3450 | 3568 | 26.14 | 28.09 |
| KES/TZS | 2420 | 2580 | 18.33 | 20.31 |
MONEY MARKET
BK analysis on Monday showed excess liquidity in the market. The regulator was therefore in the market for Kes 100Bn in 1, 7 and 14 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 | 5,866.62 | 4,909.26 | 23,101.23 |
| Amount Accepted | 5,554.46 | 4,909.26 | 19,084.10 |
| Current Rate | 7.9865% | 8.0331% | 9.5790% |
| Previous Rate | 7.9999% | 8.0500% | 9.5691% |
GLOBAL MARKETS
Most Asian currencies firmed slightly on Tuesday, while the USD wallowed at seven-week lows after weak labor data from last week fueled increasing bets that the Fed will cut rates in September. Most regional currencies were sitting on a positive start to September, while the USD nursed losses from the prospect of rates turning sharply lower in the coming months. Uncertainty ahead of key U.S. inflation data due this week also kept traders skittish towards the USD, while limiting bigger gains in Asian markets.
The EUR/USD extends its winning streak for the third successive session, trading around 1.1780 during the Asian hours on Tuesday. The pair appreciates as the USD continues to face challenges, following last week’s weaker-than-expected August jobs data, which has bolstered expectations that the Fed will cut rates in September. Markets are increasingly betting on the possibility of a larger 50-basis-point move.
The GBP/USD rose further on Monday, extending another 0.35% to recapture chart territory north of 1.3550. General market sentiment is banking on a rate cut at the Fed next meeting on September 17, thanks to rapidly deflating employment figures in the United States. However, the latest batch of US CPI inflation is due this week, and could throw a wrench in interest rate expectations.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 4.5% | ||
| KES CBR | 9.50% | ||
| GBP BOE RATE | 4.00% | ||
| EUR ECB RATE | 2.15% | ||
| USD FED RATE | 4.50% | ||
| SOFR O/N RATE | 4.42%, 1.923%, 3.9669% | ||
| BRENT OIL ($/BARREL) | 66.51 | ||
| MURBAN CRUDE ($/BARREL) | 62.73 | ||
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.