USD/GHS Price & Performance (USDGHS)

The Kenyan shilling is expected to weaken further as banks repatriate last year’s dividends, increasing demand for U.S. dollars. Currently trading at 129.30/129.50 against the dollar, traders predict further depreciation unless the central bank intervenes to stabilize the currency.1

Nigeria’s naira is losing ground in both official and street markets, with rates falling to 1,550 and 1,570 naira per dollar respectively. Rising demand for foreign currency continues to outweigh central bank supply, prompting concerns about further depreciation if the supply gap persists.1

The Ugandan shilling shows signs of strengthening as firms settle mid-month tax obligations, reducing dollar appetite. Trading at 3,662/3,672 against the dollar, the local currency may gain further in the coming days, with forecasts suggesting a range of 3,630-3,660.1