Daily Market Update
MARKET UPDATE FOR 8th July 2026
LOCAL MARKET
USD/KES
The Kenya shilling was stable against the US dollar on Tuesday, market data showed.
Expected range today is 126.50—131.50
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 126.50 | 131.50 | ||
| GBP | 1.3202 | 1.3609 | 167.01 | 178.96 |
| EUR | 1.1265 | 1.1566 | 142.50 | 152.09 |
| JPY | 160.83 | 163.87 | 0.7720 | 0.8176 |
| ZAR | 14.761 | 17.770 | 7.12 | 8.91 |
| CHF | 0.8032 | 0.8135 | 155.50 | 163.72 |
| CAD | 1.4139 | 1.4240 | 88.83 | 93.01 |
| KES/UGX | 3610 | 3720 | 27.45 | 29.41 |
| KES/TZS | 2560 | 2695 | 19.47 | 21.30 |
MONEY MARKET
CBK analysis on Tuesday showed excess liquidity in the market. The regulator was therefore in the market to mop Kes 60Bn in 6 and 13 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 | 23,013.48 | 2,268.16 | 2,776.87 |
| Amount Accepted | 14,187.31 | 833.16 | 2,405.42 |
| Current Rate | 8.8275% | 8.8438% | 8.9932% |
| Previous Rate | 8.8206% | 8.7782% | 8.9746% |
GLOBAL MARKETS
Oil prices rose and bonds were sold on Wednesday as renewed fighting in the Middle East and U.S. sanctions on Iranian oil threatened the ceasefire.
EUR/USD traded in a narrow band around 1.1436 on Tuesday as traders await greater clarity on the Fed and ECB interest rate paths.
GBP/USD rose to a three-week high of 1.3401 on Tuesday as the USD continued to slip in the wake of Thursday’s weaker-than-expected U.S. jobs report.
Source: LSEG Refinitiv
| LOCAL AND INTERNATIONAL BENCHMARK RATES | |||
| Local Inflation | 6.4% | ||
| KES CBR | 8.75% | ||
| GBP BOE RATE | 3.75% | ||
| EUR ECB RATE | 2.40% | ||
| USD FED RATE | 3.75% | ||
| SOFR O/N RATE | 3.66%, 1.932%, 3.7299% | ||
| BRENT OIL ($/BARREL) | 76.55 | ||
| MURBAN CRUDE ($/BARREL) | 72.73 | ||
For firm quotes and more information on other treasury products kindly contact our treasury team
Treasury team: Martin Githinji, Calvince Amallah, Elizabeth Kiarie, Philip Wanjiru and Oliver Kilonzo.
Telephone Contacts: 020 3275 XXX; EXT.185/558/526/221/378
Mobile Lines: 0703 058 XXX; EXT.185/558/526/221/378
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.