Cedi loses grounds against dollar but records gain against pound; one dollar equals GH¢15.85

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The Ghana cedi lost 0.48% to the dollar last week, increasing its year-to-date loss to 1.27% with just 13 days into 2025.

Cedi loses grounds against dollar but records gain against pound; one dollar equals GH¢15.85

The local currency closed closing at a mid-rate of GH¢15.68 to one American greenback.

It also depreciated by 0.62% to the euro, while it gained 0.26% versus the pound.

It begun this week January 13, 2025, going for GH¢15.85 to one American greenback.

Looking ahead, the Central Bank plans to auction its first US$ 20mmillion to the Bulk Oil Distribution Companies (BDCs) this week.

While the action may help address some demand, analysts expect the cedi to remain under pressure for the most part of this week as the strong forex demand continues to persist.

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