Uganda and Nigeria Currencies to Strengthen
Ugandan and Nigerian currencies are projected to strengthen against the dollar. Traders anticipate rate hikes in Uganda and improved risk sentiment in Nigeria.
The currencies of Uganda and Nigeria are set to strengthen against the dollar through Thursday, while Zambia faces continued depreciation pressures. The moves follow shifting central bank policy expectations and improved risk sentiment tied to the United States. Currency traders note that divergent regional liquidity and import demands are driving the fragmented African foreign exchange outlook.
