WEEKAHEAD-AFRICA-FX-Kenyan, Tanzanian and Zambian currencies seen firm, Ugandan shilling stable

Ugandan shilling stable@

NAIROBI, May 30 (Reuters) - Kenyan, Tanzanian and Zambian currencies are expected to firm next week, while Uganda's should remain stable.


The Kenyan shilling is seen strengthening against the U.S. dollar due to inflows from remittances and receding demand for hard currency from the energy and manufacturing sector, traders said.

Commercial banks quoted the shilling at 101.35/55 per dollar, compared with 101.20/40 at last Thursday's close.


The Tanzanian shilling is expected to gain, helped by increased dollar inflows as mining companies sell greenbacks in order to meet obligations including tax payments.

Commercial banks quoted the shilling at 2,292/2,302 per dollar, compared with last Thursday's close of 2,295/2,305.


The kwacha is likely to make some marginal gains against the U.S. dollar next week, supported by foreign exchange sales by companies preparing to pay tax.

On Thursday, commercial banks quoted the currency of Africa's second-largest copper producer at 13.4000 per dollar, down from a close of 12.9500 a week ago.

"Income tax for employees is due on June 10 and some companies will start selling dollars next week to meet this obligation," one senior commercial bank trader said.


The Ugandan shilling is seen trading in a stable position due to continued flat demand for hard currency from interbank players.

Commercial banks quoted the shilling at 3,755/3,765 per dollar, unchanged from last Thursday's close.

"Appetite for dollars in the interbank market has been flat and there's no development on the radar that I would expect will change that in coming few days," said an independent forex trader in the capital, Kampala. (Reporting by John Ndiso, Nuzulack Dausen, Elias Biryabarema and Chris Mfula Editing by Chris Mfula and Helen Popper)