Ghana and Uganda's currencies are seen ceding ground to the dollar over the next week on the back of a typical seasonal surge in demand while Nigeria's naira is seen holding steady, helped by a central bank intervention.

GHANA

Ghana's cedi could be on the ropes as seasonal forex demand by firms exerts pressure until a planned central bank foreign exchange auction on the interbank market in mid-November.

At 1130 GMT on Thursday the cedi was quoted at 3.9800 to the greenback, compared to 3.9770 a week ago.

"Amidst uncertainty regarding its ability to withstand the surge in fourth quarter demand ..., buoyed by election spending, the cedi is likely to be tested," Analysts Joseph Biggles Amponsah of the Accra-based Dortis Research said.

NIGERIA

Nigerian naira is seen stable around its present level at both the official interbank and parallel market as the central bank steps up support for the local currency, traders said.

Reuters