NAIROBI, June 20 (Reuters) – The Kenyan, Ghanaian and Ugandan currencies are expected to weaken over the next week to Thursday, while Nigeria’s and Zambia’s could trade around their current levels, traders said.

KENYA

Kenya’s shilling is expected to slip on foreign-currency demand from manufacturers and importers.

Commercial banks quoted the shilling at 128.50/129.50 per dollar, compared with last Thursday’s closing rate of 128.00/129.00.

“Manufacturers and importers are starting to cover their mid-month and month-end needs,” one trader said. “I think it (the shilling) will weaken towards the middle of next week.”

The shilling has strengthened 22% against the dollar since the start of the year, according to LSEG data, boosted by a government debt management exercise that saw it buy back most of a $2 billion Eurobond that had unnerved investors.

NIGERIA

Nigeria’s naira is seen range-bound on the official market next week, as demand for foreign exchange slows and central bank interventions dry up.

LSEG data showed the naira trading at 1,481 to the dollar on the official market on Thursday, around the same level as a week ago. The unit hit 1,492 naira versus the U.S. currency on the parallel market.

“We expect the naira to remain relatively stable next week,” a trader said.

GHANA

Ghana’s cedi is expected to weaken further next week as local firms, especially in the manufacturing and telecommunication sectors, seek more dollars to buy imported goods.

LSEG data showed the cedi trading at 15.10 to the dollar on Thursday, compared with 15.00 at last Thursday’s close.

“The cedi lost further ground against the dollar this week, driven by continued demand pressures amid limited supply,” said Chris Nettey, head of trading at Stanbic Bank Ghana.

“We expect a similar narrative in the coming sessions, but the cedi’s downside could be limited by anticipation of the IMF disbursement of $360 million and Bank of Ghana interventions,” he added.

Sedem Dornoo, senior trader at Absa Bank Ghana, said foreign-currency flows were expected to remain thin and demand elevated.

UGANDA

Uganda’s shilling is seen trading with a weakening bias over the coming days, undermined by elevated demand for hard currency from merchandise importers.

Commercial banks quoted the shilling at 3,740/3,750 to the dollar on Thursday, compared to last Thursday’s close of 3,710/3,720.

“We are seeing significant (dollar) demand from importers which I reckon will remain elevated in the short term, particularly as we move toward the close of the fiscal year,” one trader said.

Uganda’s fiscal year ends in June.

The trader said the shilling was likely to weaken to around 3,780 against the dollar in the coming week.

ZAMBIA

Zambia’s kwacha is likely to hold steady following a decrease in demand for hard currency.

On Thursday commercial banks quoted the currency at 25.45 per dollar from 26.30 a week ago.

“The local unit is expected to exhibit forms of stability in the short run,” Access Bank said in a note.

(Reporting by Hereward Holland, Christian Akorlie, Chijioke Ohuocha, Elias Biryabarema and Chris Mfula; Editing by Alexander Winning)