Daily Market Update
MARKET UPDATE FOR 8th January 2026
LOCAL MARKET
USD/KES
The Kenya shilling was stable against the dollar on Wednesday, market data showed.
Expected range today is 126.50 -131.50
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 126.50 | 131.50 | ||
| GBP | 1.3402 | 1.3807 | 169.54 | 181.56 |
| EUR | 1.1582 | 1.1884 | 146.51 | 156.27 |
| JPY | 154.90 | 157.94 | 0.8009 | 0.8489 |
| ZAR | 14.829 | 17.839 | 7.09 | 8.87 |
| CHF | 0.7862 | 0.7963 | 158.86 | 167.29 |
| CAD | 1.3714 | 1.3818 | 91.55 | 95.89 |
| KES/UGX | 3580 | 3677 | 27.13 | 29.07 |
| KES/TZS | 2390 | 2560 | 18.17 | 20.24 |
MONEY MARKET
CBK analysis on Wednesday showed excess liquidity in the market. The regulator was in the market for Kes 100Bn in 1, 7 and 14 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 | 6,327.87 | 11,290.24 | 8,299.70 |
| Amount Accepted | 6,327.87 | 11,290.24 | 8,291.31 |
| Current Rate | 7.7286% | 7.8000% | 9.2095% |
| Previous Rate | 7.7281% | 7.8000% | 9.2109% |
GLOBAL MARKETS
Most Asian stock markets fell on Thursday, tracking a largely weaker close on Wall Street overnight, while South Korean shares hit fresh record highs after robust earnings forecasts from Samsung Electronics boosted sentiment. The EUR/USD remains steady after four days of losses, trading around 1.1680 during the Asian hours on Thursday. On the daily chart, the 14-day RSI at 42.6 (neutral-bearish) indicates weakening momentum after slipping below the 50 midline. RSI staying sub-50 would keep bears engaged and limit recovery attempts.
The pair is currently positioned below the nine-day EMA and marginally below the 50-day EMA, underscoring fading upside momentum. The GBP/USD trades on a flat note around 1.3465 during the early European trading hours on Thursday. Markets turn cautious as traders await the upcoming key US economic data this week. The weekly US Initial Jobless Claims report is due later in the day ahead of the highly anticipated Nonfarm Payrolls (NFP) reading. If the reports show stronger-than-expected outcomes, this could weigh on expectations for further Fed easing, which might lift the Greenback against the GBP.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 4.5% | ||
| KES CBR | 9.00% | ||
| GBP BOE RATE | 3.75% | ||
| EUR ECB RATE | 2.15% | ||
| USD FED RATE | 3.75% | ||
| SOFR O/N RATE | 3.70%, 1.933%, 3.7251% | ||
| BRENT OIL ($/BARREL) | 60.30 | ||
| MURBAN CRUDE ($/BARREL) | 56.30 | ||
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.