LUSAKA - Zambia's currency is expected to strengthen against the dollar in the next week to Thursday, while ​Ghana's and Uganda's ⁠are seen losing ground and Kenya's should be broadly stable, traders ‌said.

ZAMBIA

Zambia's kwacha is likely to gain against the U.S. currency next week, supported by ​steady inflows from the mining sector.

On Thursday, the kwacha was quoted at 18.69 per ​dollar from 19.01 a ​week ago.

"Elevated copper prices, which remain near record highs, continue to provide strong support. The kwacha is also reaping the benefits of ⁠the dedollarisation directive introduced in December, as well as the restructuring of the national debt," said Diego Barnuevo, an analyst at financial services firm Ebury.

GHANA

Ghana's cedi is seen extending its gradual depreciation on robust corporate foreign-currency demand.

LSEG data ​showed the ‌cedi trading at ⁠11.67 to ⁠the dollar, compared to 11.54 a week earlier.

"Sustained corporate FX demand for imports and ​dividend repatriation is expected to keep the cedi under ‌pressure," said Andrews Akoto, head of trading Absa ⁠Bank Ghana.

Another trader said dollar demand remained elevated, outstripping supply on the interbank market and that the current trend would continue in the near term.

UGANDA

Uganda's shilling is seen trading with a weakening tone, undercut by higher foreign-currency demand in the lead-up to the country's budget on June 11.

Commercial banks quoted the shilling at 3,770/3,780 to the dollar, compared to last Thursday's close of 3,775/3,785.

"Typically we tend to see strong appetite before ‌the budget reading because there's a bit of uncertainty about ⁠how potential new tax policies might impact the ​FX market, so banks, importers and others want to be on the safe side," a trader said.

KENYA

Kenya's shilling is forecast to be little changed.

Commercial banks ​quoted the ‌shilling at 129.25/65 per dollar compared with last Thursday's close ⁠of 129.50/95.