Daily Market Update
MARKET UPDATE FOR 31th July 2025
LOCAL MARKET
USD/KES
The Kenya shilling was steady, supported by limited appetite for hard currency.
Expected range today is 127.00 -132.00
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 127.00 | 132.00 | ||
| GBP | 1.3115 | 1.3520 | 166.56 | 178.46 |
| EUR | 1.1284 | 1.1586 | 143.31 | 152.94 |
| JPY | 147.37 | 150.42 | 0.8443 | 0.8957 |
| ZAR | 16.466 | 19.469 | 6.52 | 8.02 |
| CHF | 0.8075 | 0.8179 | 155.28 | 163.47 |
| CAD | 1.3766 | 1.3871 | 91.56 | 95.89 |
| KES/UGX | 3530 | 3640 | 26.74 | 28.66 |
| KES/TZS | 2490 | 2650 | 18.86 | 20.87 |
MONEY MARKET
CBK analysis on Wednesday showed that liquidity was excess in the market. The regulator was therefore in the market to mop up Kes 40Bn in 7,14 and 19 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 | 1,962.97 | 7,622.07 | 18,234.79 |
| Amount Accepted | 1,947.58 | 7,574.09 | 14,585.10 |
| Current Rate | 8.1283% | 8.4310% | 9.7276% |
| Previous Rate | 8.1421% | 8.4404% | 9.7218% |
GLOBAL MARKETS
Most Asian currencies moved in a flat-to-low range on
Thursday as the Federal Reserve remained noncommittal towards future interest rate cuts, while weak economic data from China also weighed. The Japanese yen was an outlier, firming sharply after the Bank of Japan kept interest rates steady, but said that it will raise interest rates if inflation and economic growth pick up as forecast. Strength in the USD weighed on most regional units, as the greenback shot up to a two-month high in overnight trade after the Fed kept interest rates steady and flagged little intent to cut rates in the nearterm.
The EUR/USD prolong its loses for the third straight day, collapses over 1.20% as the Federal Reserve hold rates and Jerome Powell, tilts hawkish. Also, strong growth figures in the United States (US) and a scarce economic docket in the Eurozone, pushed the pair below 1.1430,
down so far in the week over 2.71%.
The GBP/USD pair attracts some buyers during the Asian session on Thursday and reverses a part of the previous day’s decline to the lowest level since May 13. Spot prices currently trade just above mid-1.3200s,
though the fundamental backdrop warrants some caution before positioning for any meaningful recovery.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 3.8% | ||
| KES CBR | 9.75% | ||
| GBP BOE RATE | 4.25% | ||
| EUR ECB RATE | 2.15% | ||
| USD FED RATE | 4.50% | ||
| SOFR O/N RATE | 4.36%, 1.923%, 4.2171% | ||
| BRENT OIL ($/BARREL) | 72.25 | ||
| MURBAN CRUDE ($/BARREL) | 69.86 | ||
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.