Daily Market Update
MARKET UPDATE FOR 28th February 2025
LOCAL MARKET
USD/KES
Kenya’s shilling firmed 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 | 1.2431 | 1.2836 | 157.87 | 169.44 |
| EUR | 1.0238 | 1.0539 | 130.02 | 139.11 |
| JPY | 148.37 | 151.39 | 0.8389 | 0.8897 |
| ZAR | 16.983 | 19.987 | 6.35 | 7.77 |
| CHF | 0.8941 | 0.9046 | 140.39 | 147.63 |
| CAD | 1.4386 | 1.4491 | 87.64 | 91.76 |
| KES/UGX | 3626 | 3736 | 27.47 | 29.42 |
| KES/TZS | 2550 | 290 | 19.32 | 21.18 |
MONEY MARKET
CBK analysis on Thursday showed excess liquidity in the market. The regulator was therefore in the market for Kes 20Bn in 1 and 4 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 | 17,956.38 | 6,896.23 | 11,696.07 |
| Amount Accepted | 17,934.89 | 6,896.23 | 11,681.09 |
| Current Rate | 8.9369% | 9.2396% | 10.5017% |
| Previous Rate | 8.9477% | 9.3116% | 10.5261% |
GLOBAL MARKETS
Most Asian currencies declines on Friday, as U.S. President Donald Trump reaffirmed his tariff timings, while the Japanese yen edged up after a strong inflation report from Tokyo.The US Dollar Index (DXY) rose 0.1% in Asian trading, as market participants cautiously awaited the release of personal consumption expenditures (PCE) price index, due later in the day, to gauge the Federal Reserve’s interest rate trajectory.
The EUR/USD pair trades near 1.0390 during the Asian session on Friday. The pair weakens as the risk-sensitive Euro faces selling pressure amid heightened risk aversion following renewed US-EU trade tensions. US President Donald Trump hinted at imposing tariffs on the European Union (EU) as early as April.
The GBP/USD pair extends its downside to near 1.2580 during the early European session on Friday. Tariff uncertainty from US President Donald Trump undermines the Pound Sterling (GBP) against the US Dollar (USD). The US Personal Consumption Expenditures (PCE) Price Index for January will be the highlight later on Friday.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 2.99% | ||
| KES CBR | 10.75% | ||
| GBP BOE RATE | 4.50% | ||
| EUR ECB RATE | 2.90% | ||
| USD FED RATE | 4.50% | ||
| SOFR O/N RATE | 4.33%, 2.665%, 4.4547% | ||
| BRENT OIL ($/BARREL) | 73.19 | ||
| MURBAN CRUDE ($/BARREL) | 76.70 | ||
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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.