Sub-Saharan African Currencies Face Divergent Outlooks as Economic Factors Shift

Currencies in sub-Saharan Africa show mixed trajectories for the coming week. Shifts are driven by corporate demand and commodity inflows across the region.

Insights:
Regional currencies across sub-Saharan Africa are exhibiting divergent near-term trajectories according to recent market data and trader forecasts for the upcoming week. While the national currencies of Ghana GHGHand Uganda UGUGare expected to face depreciation pressure due to robust corporate and energy sector demand, the naira in Nigeria NGNG, the shilling in Kenya KEKE, and the kwacha in Zambia ZMZMare projected to remain stable or appreciate as they benefit from portfolio inflows and commodity exports.
Nigerian naira banknotes are shown in this picture illustration taken on September 10, 2018. REUTERS/Afolabi Sotunde/Illustration
Nigerian naira banknotes are shown in this picture illustration taken on September 10, 2018. REUTERS/Afolabi Sotunde/Illustration
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