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
-
GES bemoans growing tattooing, multiple-piercing, and bleaching among pupils
10 mins -
GRA-SML deal: Majority kicks against publication of KPMG audit report
16 mins -
GOIL introduces Super XP to give consumers more affordable options
35 mins -
Scottish Premiership: Mathew Anim Cudjoe and Dundee United secure promotion after Championship win
2 hours -
Leicester City trigger buy option for Fatawu Issahaku
2 hours -
We will ensure recent poor run of results is reversed – Hearts of Oak management to fans
2 hours -
GRA terminates 2 SML contracts, suspends upstream and minerals audit deal
3 hours -
Sister Derby joins Medikal on stage at 02 concert
3 hours -
Medikal’s 02 Concert: Shatta Wale, Sarkodie bring fireworks on stage
3 hours -
Livestream: Newsfile discusses Cecilia Dapaah’s case, vote-buying allegations in Ejisu
3 hours -
NACOC embarks on a search at Nsawam Prison
3 hours -
Ban on noise-making commences May 6
4 hours -
Foden wins Football Writers’ Association Footballer of the Year award
4 hours -
FDA discovers expired food items at Zuarungu SHS storeroom
4 hours -
Bahamas World Relays: Ghana paired with world and Olympic champions in Heat 1
12 hours