Gold and Fuel Among Commodities Whose Prices Decreased In the Last Week of May

Commodity prices declined in the week ending May 28, 2026, amid reports of progress in U.S.-Iran peace talks.

This is according to the weekly Central Bank of Kenya (CBK) report published on Friday , May 29.

International oil prices fell, with murban crude decreasing to USD 88.48 per barrel on May 28 from USD 97.51 per barrel a week earlier.

Similarly gold prices eased as safe-haven demand weakened, with spot gold declining to USD 4,491.93 per ounce on May 28 from USD 4,544.00 per ounce on May 21, 2026.

Exchange Rates and Foreign Exchange Reserves Prices

The Kenya Shilling remained stable against major international and regional currencies during the week ending May 28, 2026.

It exchanged at Ksh 129.52 per U.S. dollar on May 28, compared to Ksh 129.57 on May 21.

The foreign exchange reserves remained adequate at USD 13,209 million (5.6 months of import cover) as of May 28.

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

Also Read: Kenya Turns to Sugarcane Ethanol to Cut Fuel Prices

Money Market

The money market remained liquid during the week ending May 28, 2026, with open market operations remaining active.

Commercial banks’ excess reserves averaged Ksh 13.6 billion above the 3.25 percent Cash Reserve Ratio (CRR) requirement.

The Kenya Shilling Overnight Interbank Average Rate (KESONIA) remained at 8.75 percent on May 28, the same level recorded on May 21.

During the week, the average number of interbank transactions increased to 24, from 20 in the previous week while the average value traded also increased to Ksh 18.6 billion, from Ksh 12.8 billion in the previous week.

Also Read: CBK Report: Global Oil Prices Surge as Kenya Shilling Holds Steady

Government Securities Market and Equity Market 

The Treasury bill auction of May 28, received bids totalling Ksh 16.6 billion against an advertised amount of KSh 24.0 billion, representing a performance of 69.2 percent.

Interest rate on the 91-day, 182-day and 364-day Treasury bills increased marginally.

At the Nairobi Securities Exchange, the NASI and NSE 25 share price indices decreased by 0.01 percent and 0.39 percent respectively, while NSE 20 increased by 0.17 percent during the week ending May 28, 2026.

Market capitalization, total shares traded and equity turnover also decreased by 0.01 percent, 7.30 percent and 8.89 percent, respectively.

Bond Turnover and Global Trends

Bond turnover in the domestic secondary market increased by 26.09 percent during the week ending May 28, 2026.

In the international market, yields on Kenya’s Eurobonds decreased by 0.46 basis points on average.

Yields for Côte d’Ivoire and Angola also decreased.

Inflation concerns in advanced economies remained elevated in April 2026, with the United States recording core Personal Consumption Expenditure inflation of 3.3 percent up from 3.2 percent, reflecting higher energy and housing costs in March.

The U.S. economic growth slowed in quarter one, with annualized GDP growth revised down to 1.6 percent from a previous estimate of 2.0 percent. The U.S.

Dollar Index weakened by 0.2 percent during the week, driven by easing safe-haven demand as investors assessed the possibility of a near-term agreement to end the Middle East conflict.

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Central Bank of Kenya Office Building in Nairobi
PHOTO/CBK