{"id":295754,"date":"2025-11-20T16:11:07","date_gmt":"2025-11-20T16:11:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/295754\/"},"modified":"2025-11-20T16:11:07","modified_gmt":"2025-11-20T16:11:07","slug":"africa-fx-african-currencies-show-mixed-trends-as-kenya-shilling-weakens-next-week-tradingview-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/295754\/","title":{"rendered":"AFRICA-FX- African currencies show mixed trends as Kenya shilling weakens next week \u2014 TradingView News"},"content":{"rendered":"

Kenya’s shilling is expected to weaken slightly against the dollar next week through Thursday, while Uganda’s will remain stable, traders said on Thursday, as other African currencies showed varying trends.<\/p>\n

KENYA<\/p>\n

The Kenyan shilling \"\"\/\"\"\/USDKES<\/a> is expected to weaken slightly in the coming days, driven by demand from interbank and offshore players, traders said. <\/p>\n

Commercial banks quoted the shilling at 129.70\/130.10, compared with last Thursday’s close of 129.00\/129.40. <\/p>\n

A trader at one commercial bank noted persistent demand pressure from local banks and offshore players, which is likely to keep the currency under moderate depreciation pressure.<\/p>\n

NIGERIA<\/p>\n

Nigeria’s naira is expected to trade rangebound next week as dollar sales by the central bank and portfolio inflows help sustain liquidity in the foreign exchange market.<\/p>\n

The naira \"\"\/\"\"\/USDNGN<\/a> was quoted at 1,450 per dollar on the official market on Thursday, compared with 1,438 a week earlier.<\/p>\n

On the parallel market (NGNP=), the currency traded at around 1,475 per dollar.<\/p>\n

“The naira held firm this week, shrugging off modest dollar weakness thanks to central bank interventions. Market dynamics point to a rangebound bias in the coming week, supported by continued central bank action,” one trader said.<\/p>\n

GHANA<\/p>\n

Ghana’s cedi \"\"\/\"\"\/USDGHS<\/a> is expected to remain steady next week despite a rising seasonal demand for dollars, traders said. <\/p>\n

The currency was trading at 11.04 to the dollar on Thursday, slightly weaker than last week’s close of 10.95, according to LSEG data.<\/p>\n

“The cedi has held relatively stable, showing only a slight depreciation bias. Market confidence is bolstered by the Bank of Ghana’s consistent interventions,” said Ronald Mensah, a trader at Stanbic Bank Ghana.<\/p>\n

“Barring any major shifts in sentiment or liquidity, we anticipate this trend of relative stability to persist in the coming week,” he added.<\/p>\n

However, another trader warned that a backlog of FX demand from Tuesday’s central bank auction\u2014where bids of over $276 million exceeded the $125 million offered\u2014could weigh on the currency in the week ahead.<\/p>\n

UGANDA<\/p>\n

The Ugandan shilling \"\"\/\"\"\/USDUGX<\/a> is seen trading in a stable range supported by remittances, traders said. <\/p>\n

Commercial banks quoted the shilling at 3,635\/3,645, compared to last Thursday’s close of 3,610\/3,620. <\/p>\n

“We normally see a spike in remittance flows around now as foreign based workers send money for their relatives for the December festivities,” said an independent foreign exchange trader in the capital Kampala. <\/p>\n

He said those inflows were likely to absorb a recent surge in demand pressure for hard currency and would keep the shilling oscillating in the 3,600-3,650 range against the dollar. <\/p>\n

ZAMBIA<\/p>\n

The kwacha \"\"\/\"\"\/USDZMW<\/a> is likely to trade sideways against the dollar in the coming week supported by hard currency sales from corporates preparing to meet month-end obligations.<\/p>\n

On Thursday, commercial banks quoted the currency of Africa’s second-largest copper producer at 23.14 per dollar from 22.70 a week ago.<\/p>\n

“Today and in the near (term), the local unit is likely to continue trading steady,” Zambia National Commercial Bank (ZANACO) (ZNCO.LZ) said in a note.<\/p>\n","protected":false},"excerpt":{"rendered":"Kenya’s shilling is expected to weaken slightly against the dollar next week through Thursday, while Uganda’s will remain…\n","protected":false},"author":2,"featured_media":281707,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":{"0":"post-295754","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/295754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=295754"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/295754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/281707"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=295754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=295754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=295754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}