Daily Market Update
MARKET UPDATE FOR 10th July 2025
LOCAL MARKET
USD/KES
The Kenyan shilling was stable against the dollar on Wednesday, market data showed.
Expected range today is 127.00 -132.00
| INDICATIVE FOREX RATES | ||||
| CROSS RATES | AGAINST KES | |||
| USD | 127.00 | 132.00 | ||
| GBP | 1.3450 | 1.3858 | 170.82 | 182.93 |
| EUR | 1.1584 | 1.1885 | 147.12 | 156.88 |
| JPY | 144.79 | 147.80 | 0.8593 | 0.9117 |
| ZAR | 16.290 | 19.302 | 6.58 | 8.10 |
| CHF | 0.7892 | 0.7993 | 158.89 | 167.26 |
| CAD | 1.3634 | 1.3735 | 92.46 | 96.82 |
| KES/UGX | 3535 | 3645 | 26.78 | 28.70 |
| KES/TZS | 2540 | 2715 | 19.24 | 21.38 |
MONEY MARKET
CBK analysis on Wednesday showed that liquidity was skewed in the market. The regulator was therefore in the market to mop up Kes 80Bn in 1, 7 and 14 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 | 2,694.95 | 11,174.40 | 7,955.84 |
| Amount Accepted | 2,688.79 | 11,126.49 | 7,954.06 |
| Current Rate | 8.1454% | 8.4500% | 9.7134% |
| Previous Rate | 8.1387% | 8.4613% | 9.7221% |
GLOBAL MARKETS
Oil prices steadied near two-week highs in Asian trading on Thursday as investors assessed new trade tariff announcements by U.S. President Donald Trump, while a sharp increase in U.S crude inventories highlighted demand worries. Most Asian currencies were largely muted on Thursday as investors digested fresh trade tariff salvos from U.S. President Donald Trump, while uncertainty over the Federal Reserve’s rate outlook further contributed to marginal moves.
The EUR/USD finished Wednesday’s session with decent gains after the Federal Open Market Committee (FOMC) released its June monetary policy meeting minutes, which showed that some officials are eyeing at least one interest rate cut. As the Asian session begins, the pair trades at 1.1715, virtually unchanged, at the time of writing. The Euro dipped despite news that revealed that the White House didn’t target the European Union (EU) with additional tariffs and that it could secure some exceptions.
The GBP/USD spun a tight circle on Wednesday, trapped near the 1.3700 handle as traders await any kind of meaningful change to macroeconomic factors. The Trump administration has put the pedal to the metal on new tariff threats, issuing notices of additional double-digit tariffs on a handful of countries.
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 | 4.34%, 1.919%, 4.2170% | ||
| BRENT OIL ($/BARREL) | 70.24 | ||
| MURBAN CRUDE ($/BARREL) | 68.42 | ||
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.