International oil prices remained volatile during the week ending on March 12, 2026 as revealed by the Central Bank of Kenya (CBK) in it’s weekly report.

CBK said the prices of oil increased from $76.25 (Ksh 9862.94) on March 5, 2026 to $92.13 (Ksh 11917.02)

“International oil prices remained volatile during the week with Murban crude oil trading at USD 92.13 per barrel on March 12, compared to USD 76.25 per barrel on March 5,” CBK said.

This comes ahead of the review of the file prices by the Energy and Petroleum Regulatory Authority (EPRA) tomorrow, March 14.

Exchange Rates

The Kenya Shilling remained relatively stable against major international and regional currencies during the week ending March 12, 2026. It exchanged at Ksh 129.30 per U.S. dollar on March 12, compared to KSh 129.20 on March 5 .

Foreign Exchange Reserves

The foreign exchange reserves remained adequate at USD 14,461 million (6.2 months of import cover) as of March 12.

This meets CBK’s statutory requirement to endeavour to maintain at least 4 months of import cover.

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Remittances

Remittance inflows to Kenya totalled USD 412.7 million in February 2026 from USD 382.2 million in February 2025, an increase of 8.0 percent.

The 12 months cumulative inflows to February 2026 increased by 1.9 percent to USD. 5,051 million compared to USD 4,956 million in a similar period in 2025. Remittance inflows remain a key source of foreign exchange earnings and continue to support the balance of payments.

Money Market

The money market remained liquid during the week ending March 12, 2026, with open market operations remaining active. Commercial banks’ excess reserves averaged Ksh 37.8 billion above the 3.25 percent Cash Reserve Ratio (CRR) requirement.

The Kenya Shilling Overnight Interbank Average Rate (KESONIA) declined to 8.66 percent on March 12 from 8.72 percent on March 5. During the week, the average number of interbank transactions increased to 21 from 15 in the previous week, while the average value traded also increased to Ksh 12.2 billion from Ksh 8.8 billion.

Also Read: Iraq Closes Major Oil Port After Explosive-Laden Boat Attacks

Government Securities Market

The Treasury bill auction of March 12, received bids totalling Ksh 43.7 billion against an advertised amount of KSh 24.0 billion, representing a performance of 182.3 percent. Interest rates on the 91-day and 364-day Treasury bills declined while interest rate on the 182-day Treasury Bill increased marginally.

During the Treasury bond auction of March 11, the reopened 20-year and 25-year treasury bonds received bids totaling KSh 117.4 billion against an advertised amount of Ksh 60.0 billion, representing a performance of 195.7 percent.

Equity Market

At the Nairobi Securities Exchange, the NASI, NSE 25 and NSE 20 share price indices increased by 1.63 percent, 2.31 percent and 2.28 percent, respectively, during the week ending March 12, 2026.

Market capitalization increased by 6.7 percent due to initial public offering of Kenya pipeline shares.

Total shares traded and equity turnover also increased by 10.19 percent and 38.41 percent respectively.

Bond Market

Bond turnover in the domestic secondary market decreased by 11.47 percent during the week ending March 12, 2026.

In the international market, yields on Kenya’s Eurobonds increased by 33.37 basis points on average. Yields for Côte d’Ivoire also increased while the ones for Angola decreased.

Global Trends

Inflation concerns remained during the week due to volatility in international oil prices attributed to the ongoing conflict in the middle east.

The U.S. headline inflation held steady at 2.4 percent in February, unchanged from January.

Core inflation also remained unchanged at 2.5 percent over the same period.

The U.S. Dollar Index strengthened by 0.4 percent during the week, largely driven by elevated geopolitical risks resulting in increased demand for safe-haven assets.