Daily Market Update
MARKET UPDATE FOR 17th November 2025
LOCAL MARKET
USD/KES
The Kenya shilling moved slightly against the dollar on Friday, market data showed.
Expected range today is 127.00 -132.00
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 127.00 | 132.00 | ||
| GBP | 1.2998 | 1.3402 | 165.07 | 176.91 |
| EUR | 1.1451 | 1.1753 | 145.43 | 155.14 |
| JPY | 153.12 | 156.13 | 0.8134 | 0.8621 |
| ZAR | 15.602 | 18.607 | 6.83 | 8.46 |
| CHF | 0.7896 | 0.8000 | 158.75 | 167.17 |
| CAD | 1.3980 | 1.4081 | 90.19 | 94.42 |
| KES/UGX | 3513 | 3623 | 26.61 | 28.53 |
| KES/TZS | 2355 | 2515 | 17.84 | 19.80 |
MONEY MARKET
CBK analysis on Friday showed excess liquidity in the market. The regulator was therefore in the market to mop KES 40Bn in 5 and 10 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 | 6,540.16 | 3,690.55 | 20,310.15 |
| Amount Accepted | 6,484.76 | 3,688.80 | 20,264.47 |
| Current Rate | 7.7865% | 7.7934% | 9.3574% |
| Previous Rate | 7.7919% | 7.7934% | 9.3454% |
GLOBAL MARKETS
Investors increasingly believe that the Federal Reserve is unlikely to ease policy in the near term, a shift conveyed by several Fed policymakers who emphasised that inflation remains sticky and labour-market conditions are not yet clearly weakening. Sentiment has been further dented by the recent data blackout caused by the U.S. government shutdown, which left investors without key macro indicators for weeks. The shutdown delayed releases from the Bureau of Labor Statistics, including the September non-farm payrolls report, now due on Thursday.
The EUR/USD extends its losses for the second successive session, trading around 1.1610 during the Asian hours on Monday. The pair appreciates as the US Dollar (USD) receives support from cautious remarks given by US Fed officials, diminishing the likelihood of an interest rate cut in December.
The GBP/USD pair declines to near 1.3155 during the early Asian session on Monday. The GBP softens against the USD amid concerns about the UK’s fiscal debt and weak economic data from the UK. The pound loses ground after a report that UK Prime Minister Keir Starmer and Finance Minister Rachel Reeves have dropped the plan to raise income tax rates, in a dramatic turn ahead of the budget on November 26.
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 4.6% | ||
| KES CBR | 9.25% | ||
| GBP BOE RATE | 4.00% | ||
| EUR ECB RATE | 2.15% | ||
| USD FED RATE | 4.00% | ||
| SOFR O/N RATE | 4.00%, 1.930%, 3.9698% | ||
| BRENT OIL ($/BARREL) | 63.76 | ||
| MURBAN CRUDE ($/BARREL) | 59.32 | ||
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.