NIGERIA
Nigeria’s naira is likely to be supported by central bank dollar ‌sales.
The naira was quoted at 1,375 to the U.S. currency on the official market on Thursday, compared with 1,377 a week earlier.
The currency was changing hands at 1,395 to the dollar in street ​trading .
“I expect rates to trade between 1,375 to 1,380 naira next week,” one ​trader said. “We have seen sell pressure from people taking half-year profits. But ⁠that exit has tapered down.”
UGANDA
Uganda’s shilling is seen trading stable as hard-currency appetite has ​slowed.
Commercial banks quoted the shilling at 3,660/3,670 to the dollar, compared to last Thursday’s close ​of 3,690/3,700.
A trader said dollar appetite from both interbank players and importers had tapered off.
“We anticipate a fairly stable market because of that deceleration in appetite, which we think is driven by the ​dynamics in the energy market,” he said.
He said the local unit was likely to ​swing in the 3,650-3,670 against the dollar range in the coming days.
ZAMBIA
Zambia’s kwacha will probably hold steady, ‌helped ⁠by improving mining output and rising foreign exchange inflows.
On Thursday the currency of Africa’s second-largest copper producer was quoted at 18.45 per dollar from 18.20 a week ago.
KENYA
Kenya’s shilling is expected to continue a long-running stable trend.
Commercial banks traded the shilling at 129.15/25 per ​dollar, compared with last ​Thursday’s close of ⁠129.45/65.
GHANA
Ghana’s cedi could stay under pressure due to a resurgence in corporate dollar demand and reduced central bank support.
LSEG data showed the ​cedi trading at 11.34 to the dollar on Thursday, compared to ​11.20 a ⁠week earlier.
Advertisement · Scroll to continue

“The central bank plans to intermediate less ​FX in July ($1 billion) after supplying an additional $811 million beyond its targeted $1.2 billion in June,” he added.
REUTERS