NAIROBI - The Zambian, Ugandan and Ghanaian currencies may weaken against the dollar over the next week to Thursday, while those ​of Kenya and ⁠Nigeria are expected to be little changed, traders said.

ZAMBIA

Zambia's kwacha is likely ‌to remain under pressure as the war in the Middle East depresses risk appetite on global financial ​markets.

The kwacha was quoted at 19.53 per dollar on Thursday, weaker than 18.99 a week earlier.

"The kwacha ​remains at ​the mercy of global risk sentiment," Access Bank said in a note.

UGANDA

Uganda's shilling has also been undercut by risks linked to the U.S.-Israeli war with ⁠Iran.

Commercial banks quoted the shilling at 3,668/3,678 to the dollar on Thursday, compared to last Thursday's close of 3,595/3,605.

"Offshore investors ... are exiting positions in local assets because of the war in the Middle East and resulting risks," one trader said.

The shilling weakened beyond 3,700 ​to the ‌dollar earlier this week, ⁠a level last ⁠seen in April 2025, as the war in the Middle East triggered a spike in demand ​for hard currency, the trader added.

GHANA

Ghana's cedi may slip due ‌to robust corporate foreign-currency demand.

LSEG data showed the cedi ⁠trading at 10.75 to the dollar compared with 10.65 a week ago.

"The local currency continues its gradual depreciation, as corporate FX demand resurges despite sustained central bank intermediation through FX auctions," said Ronald Mensah, a trader at Stanbic Bank Ghana.

KENYA

Kenya's shilling is expected to hold steady, extending a long-running stable trend.

Commercial banks quoted the shilling at 129.10/20 per dollar, compared with last Thursday's closing rate of 128.90/129.20.

NIGERIA

Nigeria's naira may be range-bound next week as inflows from foreign investors attracted by the high yields on ‌the country's debt match corporate dollar demand.

The unit was quoted ⁠at 1,382 to the dollar in intraday trading on Thursday, ​compared with 1,354 a week ago.

The currency was changing hands at 1,410 to the dollar in street trading.

"The outlook for March is cautiously optimistic, ... we expect the naira to trade ​within a ‌steady range of 1,370 to 1,380 per dollar next week," a ⁠trader said.