NAIROBI, Nov 5 (Reuters) - The Kenyan, Ugandan and Tanzanian
shillings are expected to hold steady against the dollar in the
week to next Thursday, traders said.
KENYA
The Kenyan shilling KES= is expected to trade flat over
the coming days amid slow trade, traders said.
Commercial banks quoted the shilling at 108.75/95, compared
to last Thursday's close of 108.85/109.05.
"We've been at these levels for the last one month and I
expect it to remain like that even next week," said a trader at
one commercial bank.
UGANDA
The Ugandan shilling UGX= is expected to stay in a tight
range in the coming days as some players in the interbank market
unwind positions in the face of subdued demand for hard
currency.
Commercial banks quoted the shilling at 3,735/3,745,
unchanged from last Thursday's close.
"Appetite is pretty thin, I think some players may possibly
trim their (hard currency) holdings," said one independent forex
trader in the capital Kampala.
TANZANIA
Tanzania's shilling TZS= is expected to hold steady next
week as importer dollar demand matches the inflows from
agricultural exports.
Commercial banks quoted the local currency at 2,314/2,324 on
Thursday from an average of 2,313/23 recorded a week earlier.
"We foresee ... a pickup in business and trade, with demand
for dollars from oil marketing companies, manufacturers and
telecoms balanced by agriculture commodities inflows,
particularly cashew nut,” Terry Karanja, a treasury associate at
AZA, a Nairobi-based FX trading firm, said.