AFRICA-FX- Kenya's shilling to hold steady, Nigerian naira to firm [Reuters]
STANDARD BANK GRP SP/ADR (SGBLY)
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Source: Reuters
GHANA Ghana's cedi is expected to weaken further in the coming week due to persistent dollar demand from local corporates, mainly in the manufacturing and energy sectors, traders said. Refinitiv Eikon data showed the cedi trading at 12.9950 to the dollar on Thursday, compared to 12.8800 at last Thursday's close. "Cedi, this week, has been under a lot of pressure amid limited dollar supply," said Chris Nettey, Head of Trading at Stanbic Bank Ghana. "We expect the current trend to be curbed if the central bank continues to increase its intervention levels," he added. Andrews Akoto, Head of Trading at Absa Bank Ghana, said a potential increase in remittance inflows ahead of the Easter and Eid-ul-Fitr holidays could help boost the currency. KENYA Kenya's shilling is expected to hold steady, with importer demand matching supply, pausing three weeks of gains. Commercial banks quoted the shilling at 132.10/133.10 per dollar, compared to last Thursday's closing rate of 134.00
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