Audio By Carbonatix
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.
Latest Stories
-
Ghana assistant coach Roger de Sa details how he got the job
29 minutes -
Taiwan president visits Eswatini days after blaming China for cancelled trip
33 minutes -
Regional ‘Fisheries Without Borders’ project launched to combat declining fish stocks
37 minutes -
Man charged with murder and sexual assault of 5-year-old Australian girl
41 minutes -
Germany says US troop withdrawal ‘foreseeable’ as Trump warns of more ‘cuts’
1 hour -
Eduwatch warns DACF formula is deepening rural education inequality
1 hour -
Over 37,000 candidates to sit 2026 BECE in Northern Region
1 hour -
California to begin ticketing driverless cars that violate traffic laws
1 hour -
Chamber of Mines disputes GoldBod CEO’s claim on forex repatriation by large-scale miners
1 hour -
Adomako-Mensah rebukes PURC over silence on recent power outages
1 hour -
Political interference biggest threat to local governance – CHALOG President
1 hour -
Chief of Staff announces Presidential Delivery Unit to track government promises
1 hour -
Adomako-Mensah questions Mahama’s 1,200MW power plant announcement
1 hour -
NPP’s Kwabena Frimpong slams government over ‘unfair’ health recruitment system
1 hour -
Ghana’s problems solvable but not with square pegs in round holes
3 hours