Currency Forecasts

Following a period of considerable exchange rate volatility in Q309, we expect the naira to remain relatively over the short term. This view is premised on easing supply constraints... 2009-10-08

The pound continues to look good against the US dollar, with the medium-term uptrend still in place. The short-term risks are of a dollar bounce against the euro, and we expect the... 2009-09-21

The downside pressure on the Angolan kwanza has receded, and we now believe that the current level of AOA77.40/US$ will hold over the remainder of 2009. Oil revenues are rising and... 2009-09-15

From a technical perspective, the South African rand continues to look strong, and we are maintaining our view that the currency is likely to appreciate further towards the ZAR7.0000-7.2000/US$... 2009-09-10

The Ghanaian cedi has broken out of a 15-month trend channel and has appreciated by 2.2% over August 1-10. It has been boosted by a recent influx of foreign exchange associated with... 2009-08-10

With the Ugandan economy having avoided the worst effects of the global economic downturn, and with the global macroeconomic context improving and risk appetite returning, the shilling... 2009-08-05

The technical and fundamental picture for the Tanzanian shilling no longer looks as weak as it once did, and we are revising up our end-09 exchange rate forecast to a stronger TZS1,280/US$.... 2009-07-20

The Sudanese pound is trading within a strong depreciatory trend channel. With downside pressure from the current account deficit being keenly felt, and with foreign exchange reserves... 2009-07-09

The Zambian kwacha looks good both on a technical and fundamental basis, certainly in the short-to-medium-term. The unit has staged a strong recovery since the lows of February-April... 2009-06-15

The Angolan kwanza has been devalued, in line with our long-held expectations. However, the 3.3% move to AOA77.55/US$ will not be sufficient to stem the downside pressure, in our... 2009-06-11