Some African Currencies Hurt Less Than Others by Liquidity Surge

Bloomberg) —

Traders are betting on smaller average depreciation for six major African currencies compared with March, as the wall of global monetary and fiscal stimulus provides a backstop for riskier assets. But the outlook is uneven: the spread between 12-month forwards and one-month contracts suggests sizable depreciation in Nigeria, Zambia and Ghana. Currencies in Kenya, Egypt and South African are seen as more stable over the next year.

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