Kenya, June 25, 2026 - African currencies are expected to remain largely stable or come under mild pressure in the coming days as markets continue to assess global economic conditions, oil price movements, and month-end demand for foreign currency, according to a Reuters survey of traders across the continent.
For Kenya, the outlook remains relatively positive, with the shilling projected to maintain its recent stability against the US dollar despite ongoing global uncertainties. Currency dealers quoted the shilling at around 129.55/75 per dollar this week, largely unchanged from previous trading sessions.
The resilience of the Kenyan currency comes amid easing concerns over global oil supply disruptions following recent diplomatic progress involving the United States and Iran.
Earlier fears surrounding potential disruptions in the Strait of Hormuz, a critical route for global oil shipments, had weighed on emerging market currencies and increased pressure on oil-importing economies such as Kenya.
Kenya's currency has benefited from a combination of strong diaspora remittances, export earnings from tea and horticulture, improved foreign exchange reserves, and prudent monetary policy by the Central Bank of Kenya (CBK).
These factors have helped shield the shilling from the sharp volatility experienced by several African currencies over the past two years.
Across the continent, however, some currencies are expected to face headwinds. Ghana's cedi is forecast to come under slight pressure due to rising demand for dollars from energy companies and corporate importers, while Uganda's shilling may weaken modestly as manufacturers and other businesses increase foreign currency purchases ahead of month-end obligations.