WEEKAHEAD-AFRICA-FX-Zambian Kwacha seen gaining, other African currencies mostly stable

LUSAKA, Sept 27 (Reuters) – The Zambian currency is expected to recover slightly next week after hitting its lowest level since November 2015, while the currencies of Kenya, Ghana and Uganda are expected to remain stable.


The kwacha is likely to reverse some of its recent losses next week on improved dollar supply from corporates selling hard currency to settle month end obligations and pay taxes.

At 1000 GMT on Thursday, commercial banks quoted the currency of Africa’s No.2 copper producer at 12.1500 per dollar, its weakest level this year, from 11.5000 a week ago.

“Companies paying salaries at the month end, and provisional taxes in the second week of October, will want to take advantage of the higher dollar rate,” one commercial bank trader said.


The Kenyan shilling is…

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