Audio By Carbonatix
The Ghana cedi is expected to continue its stability against the US dollar and other major currencies this week.
This is expected to be supported by improved foreign exchange support from the Bank of Ghana.
The cedi recorded some gains last week across the major trading currencies in the retail market.
It appreciated 0.64% week-on-week against to close the week's trades at a retail market mid-rate of ¢11.68/$. It also gained 0.67% week-on-week against the pound while impressively gaining 1.60% against the euor despite persistent policy rate tightening by the Central Bank of Europe.
The Central Bank last week provided about $25 million to bolster liquidity in the FX market.
The cedi has benefited immensely from the International Monetary Fund programme, boosting investor confidence.
The local currency ended the first-half of this year with a better performance than the same period last year.
According to Bloomberg, the cedi lost about -11.21% to the US dollar, yet was still classified among African currencies with ‘Worst Spot’ Returns’.
Latest Stories
-
Photos: President Mahama meets Tanzania President Suluhu Hassan
8 minutes -
Mahama calls for cessation of Iran-US-Israel conflict, urging return to dialogue
28 minutes -
Elsie Addo Awadzi: Leadership reflections, one year on; 7 lessons from 7 years in public office
43 minutes -
Finance Minister announces expiration of DDEP-induced restrictions on domestic bond issuance
56 minutes -
Gov’t urged to aid private nursing training colleges to ease burden on public ones
1 hour -
Kumasi Mayor vows to keep Kejetia Market free from highly inflammable materials
1 hour -
Ghana safe from fuel supply disruptions amid Middle East tensions – Dr Oppong
1 hour -
Ghana Development Awards 2026 set to celebrate excellence in nation-building and economic recovery
2 hours -
IMANI opens applications for 12th SYPALA summer seminar
2 hours -
Khamenei’s wife dies after suffering injuries in air strike – Iranian media
2 hours -
Modernising customs operations: Leveraging advanced technology to combat fraud and inefficiencies
2 hours -
Accra Professional Ladies Open returns after three-year hiatus to mark International Women’s Day
2 hours -
Savannah police command lauds Yagbonwura and others for sustaining current peace
2 hours -
SONA crafted to set up President Mahama – Economist
3 hours -
Gov’t losing focus over cedi appreciation – Economist
3 hours