Daily Market Update
MARKET UPDATE FOR 22nd 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 | 132.50 | ||
| GBP | 1.3278 | 1.3682 | 167.97 | 181.29 |
| EUR | 1.1540 | 1.1842 | 145.98 | 156.91 |
| JPY | 157.14 | 160.18 | 0.7897 | 0.8432 |
| ZAR | 14.770 | 17.775 | 7.12 | 8.97 |
| CHF | 0.7895 | 0.7998 | 158.16 | 167.83 |
| CAD | 1.3771 | 1.3874 | 91.18 | 96.22 |
| KES/UGX | 3405 | 3515 | 25.70 | 27.79 |
| KES/TZS | 2450 | 2590 | 18. 49 | 20.47 |
MONEY MARKET
CBK analysis on Tuesday showed excess liquidity in the market. The regulator was in the market for Kes 30 Bn in 1 and 6 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 | 961.31 | 580.62 | 29,284.43 |
| Amount Accepted | 950.85 | 580.62 | 26,992.83 |
| Current Rate | 7.7011% | 7.8000% | 9.2033 % |
| Previous Rate | 7.7277% | 7.8000% | 9.2045 % |
GLOBAL MARKETS
Most Asian stocks fell on Wednesday, extending recent declines as heightened geopolitical uncertainty over the U.S.’ demands for Greenland unsettled investors.
The EUR/USD extends its gains for the third consecutive session, trading around 1.1730 during the Asian hours on Wednesday. The pair appreciates as the US Dollar (USD) continues to lose ground amid rising United States (US)–Greenland concerns. The downside of the Greenback could be restrained as the latest US labor market data have pushed back expectations for further Federal Reserve (Fed) rate cuts until June.
The GBP/USD remains in the positive territory for the third consecutive session, trading around 1.3430 during the Asian hours on Wednesday. The pair rises as the Pound Sterling (GBP) gains support following Tuesday’s release of UK employment data for the three months to November. Employment increased by 82K after a 17K contraction in the previous period. Traders await the UK Consumer Price Index (CPI), Producer Price Index (PPI), and Retail Price Index data for December, which will be released later in the day.
Source: Reuters
| RNATIONAL 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 ($/BARREL) | 64.18 | ||
| MURBAN CRUDE ($/BARREL) | 59.78 | ||
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.