NAIROBI, March 18 (Reuters) - Kenya's shilling is expected
to weaken against the U.S. dollar in the next week to Thursday,
while Uganda's shilling and Zambia's kwacha will hold steady,
traders said.
KENYA
The Kenyan shilling KES= is seen easing, on strong dollar
demand from general merchandise importers and manufacturers.
Commercial banks quoted the shilling at 109.75/109.95,
compared with last Thursday's close of 109.55/109.75.
"We expect the shilling to remain under pressure due to an
end of month increase in demand from the energy sector and
manufacturing as well as general importers," said a trader at
one commercial bank.
UGANDA
The Ugandan shilling UGX= is seen trading in a broadly
stable range on the back of a slowdown in demand from
foreign-owned corporates.
Commercial banks quoted the shilling at 3,665/3,675, per
dollar compared with last Thursday's close of 3,660/3,670.
"In last couple of weeks foreign-owned corporates were in
the market because it is dividends season but I think that
demand is getting exhausted," said an independent foreign
exchange trader in the capital Kampala.
The local currency, he said, would likely oscillate in the
3,655-3,685 range.
ZAMBIA
The kwacha ZMW= will likely continue trading within the
current range against the dollar supported by month-end hard
currency sales.
On Thursday, commercial banks quoted the currency of
Africa's second-largest copper producer at 21.9800 per dollar
from a close of 21.9450 last Thursday.
"We still have high demand for the dollar amid erratic
inflows but the kwacha should get some support from corporates
that will be preparing for month-end payments," one commercial
bank trader said.