Currency Forecasts

The South African rand looks set to extend its gains against the US dollar, driven by international investment flows towards high-yielding currencies and bullish momentum for gold.... 2010-10-12

In spite of a reasonably positive fundamental picture and rising risk appetite globally, the shilling has remained near its all-time low UGX2,300/US$ in Q210 and Q310. From a technical... 2010-09-27

Having topped out at MAD10.90/EUR at the end of Q210, the dirham has recently broken through support at MAD11.10/EUR, and we stress that the next level of support does not come in until... 2010-09-23

Having dropped precipitously from its 2010 high of SDG2.2222/US$ to SDG2.3600/US$ on July 1, the Sudanese pound has since clawed back some gains, trading at SDG2.2943/US$ on July 14.... 2010-07-14

In line with our short-term view for the South African rand, we expect the pula to remain broadly stable versus the US dollar with BWP6.40/US$ - BWP7.30/US$ likely to form the bounds... 2010-07-13

Following a brief period of downward pressure on the exchange rate in May 2010, the naira has again stabilised in the NGN150.00/US$ region, where we expect it to remain over the coming... 2010-07-12

The Kenyan shilling found support at KES81.00/US$ after a six month bout of depreciation, during which it lost approximately 9% against the US dollar. With a weak recovery in the US... 2010-07-09

The South African rand continues to range trade, with key resistance at ZAR7.2000/US$ and key support at ZAR8.0000/US$ unlikely to be tested over the near term. However, we do expect... 2010-07-08

We believe that the Egyptian pound will stabilise around the EGP5.70/US$ level. This is in spite of the euro gaining ground against the US dollar lately. The pound has responded as... 2010-07-08

After a series of devaluations over the course of 2009 and early 2010, the Angolan kwanza seems to have found a bottom around the AOA93.00/US$ mark. Given an improved external environment... 2010-06-14