Daily Market Update
MARKET UPDATE FOR 23rd June 2025
LOCAL MARKET
USD/KES
The Kenyan shilling was flat against the dollar on Friday same as from the previous session, data from the market showed.
Expected range today is 127.00 -132.00
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 127.00 | 132.00 | ||
| GBP | 1.3265 | 1.3673 | 168.47 | 180.48 |
| EUR | 1.1351 | 1.1655 | 144.16 | 153.85 |
| JPY | 145.67 | 148.69 | 0.8541 | 0.9062 |
| ZAR | 16.570 | 19.581 | 6.49 | 7.97 |
| CHF | 0.8127 | 0.8228 | 154.35 | 162.42 |
| CAD | 1.3710 | 1.3815 | 91.93 | 96.28 |
| KES/UGX | 3550 | 3660 | 26.89 | 28.82 |
| KES/TZS | 2600 | 2720 | 19.70 | 21.42 |
MONEY MARKET
CBK analysis on Friday showed excess liquidity in the market. The regulator was therefore in the market to mop up Kes 40 Bn in 3 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 | 3,745.85 | 2,611.35 | 21,038.02 |
| Amount Accepted | 3,733.22 | 2,551.90 | 17,728.22 |
| Current Rate | 8.1687% | 8.4761% | 9.7388% |
| Previous Rate | 8.1789% | 8.4948% | 9.7500% |
GLOBAL MARKETS
Asian stocks fell on Monday as risk appetite was battered by the U.S. attacking Iran’s nuclear sites over the weekend, marking a potentially dire escalation in the Middle Eastern conflict. The DXY rose to 99.02.
The EUR/USD softens to around 1.1480 during the early Asian session on Monday. The Greenback edges higher against the Euro (EUR) as US President Donald Trump’s decision to join Israel’s war against Iran sharply escalates the conflict. Traders will closely monitor the developments surrounding the Middle East conflict. The European Central Bank (ECB) cut interest rates for the eighth time in a year earlier this month to support a sluggish recovery in the Eurozone but clearly signaled a pause in July.
The GBP/USD pair extends the decline to around 1.3405 during the Asian trading hours on Monday. The fears that Iran would retaliate against US attacks on its nuclear sites boost the safe-haven flows, supporting the US Dollar (USD). Investors await the preliminary reading of the Purchasing Managers Index (PMI) for June from the UK and the US, which are due later on Monday. The downbeat UK Retail Sales data prompted traders to raise bets on further interest rate cuts from the BoE, weighing on the Pound Sterling (GBP).
Source: Reuters
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 3.8% | ||
| KES CBR | 9.75% | ||
| GBP BOE RATE | 4.25% | ||
| EUR ECB RATE | 2.00% | ||
| USD FED RATE | 4.50% | ||
| SOFR O/N RATE | 4.33%, 2.167%, 4.2104% | ||
| BRENT OIL ($/BARREL) | 76.94 | ||
| MURBAN CRUDE ($/BARREL) | 75.37 | ||
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.