Audio By Carbonatix
The Ghana cedi may record mixed performance against the US dollar this week.
This will be similar to what transpired last week as the local currency depreciated by a marginal 0.20% to the American greenback.
According to some analysts Joy Business engaged, the increased demand for the US dollar will trigger mixed development on the forex market.
Although the Finance Minister's visit to China on debt restructuring talks and the government's renewal of coupon payments may improve market sentiment, the analysts believe these are not enough to cause the cedi’s recent gains against the American greenback.
Last week, the local currency also lost 1.16% and 0.95% to the pound and euro respectively, on strong corporate demand.
The Central Bank allocated $20 million to the Bulk Oil Distribution Companies and sold about $9 million on the spot market.
The cedi is presently going for ¢12.63 to one US dollar on the forex or retail market.
Latest Stories
-
CSIDT proposes 80% of GH¢350m flood budget be invested in prevention
13 minutes -
Trump threatens to target Iran’s bridges and power plants if Hormuz attacks persist
50 minutes -
Ghana not yet in digital trust crisis, but warning signs are emerging – Kwami Tamakloe
54 minutes -
Digital trust crisis looming if fraud concerns are ignored – John Awuah warns
55 minutes -
Mamdani backs off pledge to arrest Netanyahu citing lack of authority
1 hour -
Banks’ NPLs drop to 16.1%, but credit risk remains key vulnerability
1 hour -
Business, consumer confidence positive – BoG
1 hour -
We don’t have a trust crisis – BoG urges vigilance against rising digital fraud
1 hour -
GIPC now an authority
1 hour -
Mahama urges African leaders to turn health pledges into concrete investments
2 hours -
NPP Greater Accra Regional Organiser hopeful touts experience, grassroots mobilisation record
2 hours -
WHO warns Africa risks losing decades of health gains as external funding declines
2 hours -
Chief of Staff plants shea tree at Jubilee House to reaffirm government’s commitment to shea industry development
2 hours -
GCB Bank unlocks new pathway to credit with Tier 3 pension-backed loan
3 hours -
Mid-Year Budget: ‘MoU is not a payslip’ – Oppong Nkrumah questions gov’t jobs, economic claims
3 hours