The market sentiment toward the Ghana Cedi is expected to improve in the coming weeks.

This follows an announcement by the International Monetary Fund (IMF) that it has reached a staff-level agreement with the Government of Ghana over the Economic Credit Facility (ECF) programme.

Last week, the local unit remained unchanged at GH¢16.00 to a dollar in the retail market for the better part of the week’s trading. This kept its year-to-date depreciation at 2.36%.

It also depreciated by 2.25% week-on-week versus the euro while remaining unchanged against the pound.

The Bank of Ghana’s US$178.2 million market intervention helped contain depreciation pressures, keeping the cedi stable.

Meanwhile, the cedi started this week unchanged at GH¢16.00 to one American greenback.

Analysts anticipate that a positive announcement of the IMG Ghana ECF programme will bolster market sentiment toward the cedi and help keep the local unit afloat.

The Bank of Ghana supported the foreign exchange market with S264.4 million in March 2025 to preserve the stability of the cedi.

This enabled the cedi to enjoy a calm market session in the month, with the local currency being virtually static at GH¢15.5 to a US dollar.

This occurred as ample foreign liquidity persisted on the local market.