Audio By Carbonatix
The Ghana Cedi is expected to trade fairly stable against the US dollar this week on the retail market.
This is against the backdrop of the Bank of Ghana’s relentless market intervention.
Ghana's reserves have seen a sharp growth and the central Bank has been intervening in the forex market to keep the cedi relatively stable.
Last week, the Bank of Ghana’s US$254.60 million market intervention sufficiently met demand for the American greenback.
As a result, the local unit remained stable versus the US dollar on the retail market, closing at a mid-rate of GH¢15.90/$.
However, it depreciated by 2.17% week-on-week against the pound and 2.54% versus the euro.
Meanwhile, the cedi started trading yesterday, April 21, 2025, unchanged at GH¢16.00 to one dollar. Its year-to-date loss stood at 2.36%. However, it gained marginally today, April 22, 2025, going for GH¢15.98.
Ghana recently reached a Staff Level agreement with the International Monetary Fund (IMF) during the fourth review of the US$3.0bn Extended Credit Facility (ECF).
This bolstered market sentiment.
Latest Stories
-
South Africa dump site collapse kills 14 suspected illegal miners
33 minutes -
Thailand suspends new gun permits after mass shooting
42 minutes -
France bans unsolicited telemarketing calls
51 minutes -
Anne Hathaway pokes fun at ‘fake baby bump’ theories
60 minutes -
The Office actress Lucy Davis says she has ‘incurable’ cancer
1 hour -
Pogba expected to have Monaco contract terminated
1 hour -
Doku ‘not against’ journalist who criticised him at World Cup
1 hour -
Obuasi court remands 2 teachers over alleged attack on SHS headmaster
2 hours -
Mason jailed eight years for robbing pharmacist
2 hours -
Big Push probe: Presidential staffer challenges Fourth Estate’s report on Valerie Sawyerr committee
2 hours -
Since Gold Coast, national security has never faced an open trial – Atta Akyea
2 hours -
This is no case for junior lawyers – Atta Akyea explains why he must defend Adu-Boahene
2 hours -
Lebanon parliament votes to abolish death penalty
2 hours -
Ghana, Burkina Faso sign defence pact to secure cross-border trade corridors
3 hours -
The rise of AI in the classroom: Balancing technological innovation with critical thinking
3 hours