ACCRA - Ghana's currency is expected to lose more ground against the dollar in the next week ​to Thursday, while those ⁠of Kenya, Nigeria and Zambia should be little changed, traders said.

GHANA

Ghana's ‌cedi is forecast to continue its gradual depreciation due to strong dollar demand from energy ​and manufacturing companies.

LSEG data showed the cedi trading at 11.19 to the dollar on Thursday, compared ​to 11.08 ​a week earlier.

"Despite decent FX inflows from the mining sector, firm energy sector demand will likely keep the cedi under pressure ⁠in the coming week," one trader said.

Ronald Mensah, a trader at Stanbic Bank Ghana, said the consistent oversubscription at central bank FX auctions pointed to strong underlying dollar demand, adding that little relief was expected in the near term.

KENYA

Kenya's ​shilling is expected ‌to be ⁠broadly unchanged.

Commercial banks ⁠quoted the shilling at 129.10/30 per dollar, compared with last Thursday's close of 129.25/45.

NIGERIA

Nigeria's ​naira is expected to be range-bound, as seasonal dollar ‌demand linked to companies repatriating profits, school fees ⁠and travel is offset by the central bank's open market operations (OMO) and Treasury-bill auctions.

LSEG data showed the naira at 1,372 to the dollar in intraday trading on Thursday, compared with 1,347 a week earlier.

On the street market the currency traded around 1,400 to the dollar.

"We expect the naira to trade between 1,368 and 1,378 ... next week after the OMO and T-bill auctions helped drain excess naira liquidity and ease FX demand pressure," a trader ‌said.

ZAMBIA

Zambia's kwacha is likely to hold steady, supported by dollar ⁠inflows from mining.

On Thursday the kwacha was ​quoted at 18.99 per dollar from 18.86 a week earlier.

The central bank has attributed the kwacha's gains against the dollar this year to strong FX supply from ​miners and ‌foreign financial institutions, as well as policy reforms designed to curb ⁠foreign-currency use.