AFRICA-FX- Kenya, Nigeria, Zambia currencies set to weaken further
Kenya's shilling is expected to weaken further in the coming week, driven by demand for dollars from the manufacturing and energy sectors.
The naira hit a low of 831 against the dollar on the official market on Tuesday, edging closer to the 840 reported by the FMDQ Exchange late last month. It is currently weaker on the black market at 860 naira. Ghana's cedi is expected to strengthen against the dollar next week due to muted corporate demand for forex and remittance inflows, traders said.
"We expect the local unit to continue to strengthen in the coming sessions, especially given current lacklustre FX demand," he added.
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