African currencies week ahead: Kenyan, Tanzanian shillings, Zambia kwacha to be stable

Kenya and Tanzania's shillings and Zambia's kwacha are expected to be stable against the dollar over the next week, traders said.
KENYA - The Kenyan shilling is forecast to hold steady due to tightening liquidity in the local money market and subsiding end-month dollar demand from the energy sector, traders said.
Commercial banks quoted the shilling at 103.80/104.00 per dollar, compared with 103.75/95 at last Thursday's close.
"Most of the demand is end-month driven ... the central bank has been mopping aggressively," said a senior trader from one commercial bank, referring to central bank open market operations.
UGANDA - The Ugandan shilling is expected to weaken due to increased dollar demand from oil importers.
Commercial banks quoted the shilling at 3,675/3,685, compared with last Thursday's close of 3,670/3,680.
"There are signs of a pick-up in demand from importers, we anticipate this demand to strengthen as the fourth quarter comes around the corner," said a trader at a leading commercial bank.
TANZANIA - Tanzania's shilling is expected to be stable, with dollar demand from the manufacturing and energy sectors being met by supply from inflows from the mining sector and agricultural exports.
Commercial banks quoted the shilling at 2,298/2,303, compared with last Thursday's close 2,293/2,303.
"The shilling will remain stable with a high possibility of gaining slightly because of inflows from mining, agriculture exports and from tourism," said a trader at one commercial bank.
ZAMBIA - The kwacha is expected to remain range-bound as market players sell dollars to lock-in profits on recent gains.
On Thursday, commercial banks quoted the currency of Africa's second-largest copper producer at 13.1750, from a close of 13.1700 a week ago.
"Current trends seem to indicate that the local unit will trade between 13.000/13.250 in the short to medium-term," Cavmont Bank said in a note on Thursday.