Audio By Carbonatix
The cedi will remain stable going forward as foreign exchange (FX) demand dwindles
This follows clarity on the external debt exchange as government seeks debt reprofiling for most of the country’s external debt.
The local currency gained some ground last week [February 27, March 3, 2023], although the Bank of Ghana reduced its FX support, selling $5.20 million as against $10.75 million sold the previous week.
The cedi consequently clawed back 1.56% week-on-week of its value against the dollar to close the week at a mid-rate of ¢12.80/$1 on the retail market.
This signaled reduced demand pressures on the American greenback.
Again, the local currency also made a weekly gain of 3.68% and 5.41% against pound and the euro, respectively, on the forex market
The recovery of the Ghana cedi continued yesterday March 7, 2023 as the local currency gained some 30 pesewas from last Friday March 3, 2023 pricing to lower its year-to-date loss.
The local currency sold for ¢12.50 at the forex bureaus.
Latest Stories
-
Jospong Group unveils cutting-edge Temple for PIWC Trassacco
45 seconds -
Joana Gyan Cudjoe Teacher Initiative supports 39 schools in Amenfi Central
6 minutes -
From Administrator to CEO: Alice Nimako Debrah-Ablormeti crowned Female Real Estate Leader of the Year
10 minutes -
AMA kerb and median repainting gains momentum across Accra
15 minutes -
Pray for government as we work to deliver development – Interior Minister
20 minutes -
Ghana CEO summit marks 10 years of impact, sets sights on economic transformation
25 minutes -
Gov’t records 33% oversubscription of T-bills for the 3rd week running
36 minutes -
Leukaemia, Last Chance Abroad: Bone Marrow Transplant Centre to cost Ghana $11m – Leukaemia Foundation Project
39 minutes -
TAGG hails government for scrapping COVID-19 levy
57 minutes -
5 Ghanaian artistes to look out for in 2026
1 hour -
Ghana needs $10m to build world-class Leukaemia Treatment Centre – Leukaemia Project Foundation
1 hour -
Adelekezu residents burn six vehicles, destroy mining company’s property after boy’s death
1 hour -
Colombian Vice President leads business delegation to GPHA to explore investment opportunities
1 hour -
TCDA to establish 16,000 hectares of tree crop enclaves across all 16 regions
2 hours -
Pending applications won’t halt Kpandai parliamentary rerun – Kwame Akuffo
2 hours