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The currencies of Zambia and Kenya are expected to be little changed in the coming week, while Ghana and Uganda may weaken slightly, according to traders. The outlook reflects month-end demand patterns and varying levels of hard-currency pressure across the four markets.
Zambia’s kwacha should draw support from hard-currency sales by local companies meeting month-end obligations. Commercial banks quoted the kwacha at 18.20 per dollar on Thursday, compared with 18.05 a week earlier, and Access Bank said local-currency obligations could help bolster liquidity.
Kenya’s shilling is also seen holding steady against the dollar. Commercial banks traded the shilling at 129.45/65 per dollar, only slightly different from last Thursday’s close of 129.55/75.
Ghana’s cedi could trade around current levels or weaken slightly as corporate dollar demand picks up. LSEG data showed the cedi at 11.20 to the dollar, while one trader said mining-sector inflows were broadly offsetting rebounding demand from the energy sector.
Uganda’s shilling is expected to face some weakening pressure from higher month-end foreign-currency demand from importers in sectors such as manufacturing. Commercial banks quoted the shilling at 3,695/3,705 per dollar, and one trader said it could move in the 3,680-3,720 range in the coming days.
The report points to a largely stable regional currency backdrop, with each market moving according to local payment cycles and sector-specific dollar demand. In several cases, hard-currency inflows and month-end obligations are balancing out broader pressure.
