Ghana’s cedi, the weakest currency in the world, will continue to decline.

Supported by a six-quarter growth streak, the Ugandan Shilling

As Uganda recorded its sixth consecutive quarter of economic growth, growing 4.9% in the second quarter compared to the same period a year earlier, the shilling appreciated against the dollar, trading at 3810 from 3834 at last week’s end.

Improved agricultural momentum and increased industrial output, particularly in mining and quarrying, were the main contributors to this. The ongoing Ebola outbreak has Uganda imposing a three-week curfew in two regions, puncturing the improving economic mood. Due to the performance of the country’s GDP, we anticipate that the Shilling will continue to increase in the near future.

Gains for the Tanzanian Shilling from Agricultural Inflows

The Shilling was trading at 2332, in line with last week’s closing, and remained essentially unchanged against the dollar. As investors wait for listed companies to submit their third-quarter financial results next week, trading activity on the Dar es Salaam Stock Exchange has decreased over the previous two weeks.

According to the Bank of Tanzania, credit to the agricultural sector increased by 42.6% in the year that ended in August, compared to a decline of 14% during the same period a year earlier. The upcoming week is expected to see the Shilling gain due to increased stock trading activity and inflows from export crops like cashew, tobacco, coffee, and cotton.