Audio By Carbonatix
The Ghana cedi is expected to weaken for the third week running against the US dollar.
This follows rising foreign exchange demand from local corporates and importers ahead of the Christmas season.
Last week, the Central Bank auctioned $20 million to Bulk Oil Distribution Companies and $2.0 million for spot market interventions. These many analysts said were insufficient to meet the persistent foreign exchange demand.
Nonetheless, the rate of depreciation is not alarming.
The local currency depreciated last week following limited foreign exchange support from the Bank of Ghana.
It lost 0.17% in value against the dollar, closing at ¢11.84.
It also depreciated by 0.86% against the pound and 0.60% against the euro on the retail market.
On the interbank market, the cedi however posted a mixed performance.
It lost 0.73% week-on-week in value to the American greenback, whilst it made a marginal gain (+0.06%) to the euro. It remained stable to the British pound.
Latest Stories
-
Samsung introduces 2 new products into Ghanaian market
6 minutes -
Spend to complete abandoned projects – Abena Osei-Asare tells government
18 minutes -
Daily Insight for CEOs: Expanding influence through partnerships
23 minutes -
US says it will use frozen Iranian assets to fund damage to ships as strikes continue
27 minutes -
Don’t just spend, invest in areas that transform lives — Abena Osei Asare tells government
29 minutes -
Police reject GH¢150,000 bribe after 5,000 parcels of suspected narcotics in Tema
29 minutes -
Should a good leader be feared or loved? A critical look at Ghana’s recent presidential leadership styles
30 minutes -
Sammy Gyamfi rejects Minority’s claims, insists GoldBod remains financially strong
31 minutes -
Nkoko Nkitinkiti is working despite isolated cases of beneficiaries eating chickens — Ato Forson
33 minutes -
128 students to leave Ghana for educational exchange across four European countries
42 minutes -
Finance minister clarifies agriculture ministry allocation dispute
44 minutes -
National Community Media Cyber Capability Building Project to launch on August 3
1 hour -
Two Chinese win world’s top Maths prize for solving century-old problems
1 hour -
Today’s Front Pages: Friday, July 24, 2026
1 hour -
France orders evacuation of tourist spot as hundreds flee wildfires by boat
1 hour