NAIROBI - Ghana's currency is expected to fall further against the dollar in the next week to Thursday, while those of ​Kenya, Nigeria and Uganda ⁠should be little changed and Zambia's may strengthen, traders said.

GHANA

Ghana's cedi is being ‌dragged down by persistent corporate foreign-currency demand, particularly from the energy sector.

LSEG data showed the cedi trading at ​11.34 to the dollar, compared to 11.26 a week earlier.

"The cedi is likely to continue its steady ​slide ... as ​FX backlogs persist," one trader said.

"Corporate FX demand has remained firm, while mining sector FX inflows and central bank auction allocations have so far been insufficient to ⁠offset it," the trader added.

KENYA

Kenya's shilling is expected to hold steady, with importer dollar demand matched by inflows.

Commercial banks quoted the shilling at 128.95/129.25, compared with last Thursday's close of 129.05/25.

"We expect it to remain stable," a trader said.

NIGERIA

Nigeria's naira is forecast to ​be broadly stable, ‌supported by dollar sales ⁠by the central ⁠bank and higher oil receipts.

LSEG data showed the naira at 1,368 to the dollar in intraday ​trading on Thursday, compared with 1,356 a week earlier.

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

"What ⁠we're seeing is the market settling into a balance, driven by the central bank's interventions and also steady inflows from oil receipts," a trader said.

UGANDA

Uganda's shilling is seen little changed in the coming days after the central bank maintained its policy rate.

Commercial banks quoted the shilling at 3,735/3,745 to the U.S. dollar, compared to last Thursday's close of 3,750/3,760

On Thursday the central bank left its benchmark lending rate at 9.75% for the seventh policy meeting in a row, though it expects inflation to rise moderately in ‌the second half of the year driven by the effects of ⁠the Iran war.

"After the central bank chose to extend ​a neutral stance I think the unit will maintain a broadly stable range," a trader said.

ZAMBIA

Zambia's kwacha could advance against the dollar due to strong foreign-currency inflows from the mining sector and foreign ​financial institutions.

On ‌Thursday the kwacha was quoted at 18.98 per dollar from 19.19 ⁠a week ago.