The Nigerian naira is expected to remain steady on the back of sustained dollar sales by the central bank, while the Kenyan shilling is expected to trade within a narrow band due to tight liquidity in the markets.
Overnight rates have soared to a high of 26 percent on the interbank market this week, supporting the shilling.
"Tax payments will be taking out a lot of liquidity that would otherwise fund demand ... that could offer support," said a trader from leading commercial bank, adding that the shilling was seen trading in the 3,530-3,570 range.
"In the absence of any significant dollar supply to the market, we expect further losses for the local currency, fuelled by corporate demand in the week ahead, albeit marginal," Joseph Biggles Amponsah, currency analyst at Dortis Research said. President John Dramani said on Wednesday the recent weakening of the cedi was a process of the unit finding its "correct level" after last month's sharp rally.