KAMPALA - Uganda's currency may fall against the dollar in the next week to Thursday, while those of Ghana, Kenya and ​Nigeria could be broadly ⁠stable, and Zambia's is forecast to extend recent gains, traders said.

UGANDA

Uganda's shilling is ‌expected to come under pressure as traders said they thought an Ebola outbreak was scaring away some ​tourists at a time of strong foreign-currency demand from the energy sector because of high global oil ​prices.

"We think ​the Ebola situation is making some tourists rethink their travel plans, ... that will impact (dollar) flows," one trader said.

Tourism is one of Uganda's biggest sources of foreign exchange.

Commercial ⁠banks quoted the shilling at 3,763/3,773 to the dollar on Thursday, compared to 3,775/3,785 a week earlier.

 

GHANA

Ghana's cedi may find some support from the central bank, which has increased the frequency and size of its foreign-currency auctions.

LSEG data showed the cedi trading at 11.72 ​to the dollar, compared ‌to 11.66 a ⁠week earlier.

"While unmet ⁠FX demand from local corporate accounts remains substantial, sustained intervention at these higher volumes is likely to ​slow the local unit's recent depreciation," Andrews Akoto, head of trading ‌at Absa Bank Ghana, told Reuters.

The central bank ⁠offered $160 million at an auction on Tuesday as well as $300 million on Wednesday.

 

KENYA

Kenya's shilling is expected to hold steady as diaspora inflows offset dollar demand.

Commercial banks quoted the shilling at 129.25/35 per dollar compared with last Thursday's close of 129.25/65.

 

NIGERIA

Nigeria's naira could also be little changed or gain slightly, after international oil companies sold foreign currency this week to support their local operations.

The naira was quoted at 1,360 to the U.S. currency on the official market on Thursday, compared with 1,373 a week earlier.

The currency was ‌changing hands at 1,393 to the dollar in street trading.

"The naira ⁠has been appreciating. We expect stability next week or a ​further appreciation," a trader said.

 

ZAMBIA

Zambia's kwacha is likely to stay on the front foot due to strong hard-currency inflows from copper exports.

On Thursday commercial banks quoted the currency of Africa's second-largest ​copper producer ‌at 17.92 per dollar, up from 18.69 a week ago.