CEDI PERFORMANCE Archives - Wontumi Online

11 Dec

Cedi To Close Year Stable

Wontumi10 CommentsBusinessCEDI, CEDI PERFORMANCE

The Ghanaian cedi is expected to remain stable, driven by an influx of foreign exchange from increased tourism, recent IMF disbursements, and the conclusion of peaceful general elections. Over the past month, the cedi has gained against major trading currencies, supported by the Bank of Ghana's (BoG) interventions, including injecting $240.4 million into the FX market. The IMF’s approval of the third review of its Extended Credit Facility (ECF) and the disbursement of $360 million further boosted investor confidence. Additionally, the anticipated arrival of two million tourists in 2024, generating over $3 billion in revenue, is projected to enhance FX…

Cedi’s Performance Remained Unchanged To Dollar In First Week Of 2024; One Dollar Equals ¢12.20

Wontumi1BusinessCEDI, CEDI PERFORMANCE, dollar

The Ghana cedi traded unchanged against the US dollar last week at a mid-rate of GH¢12.18/$ on the retail market. The same story emerged on the interbank market. However, it shed 0.49% and 0.56% week-on-week against the pound and euro respectively. The foreign exchange market also experienced a decrease in liquidity levels last week as the Bank of Ghana’s supply-side intervention took a pause. But corporate demand remained elevated after the yuletide. Ghana and its bilateral creditor committee met on Monday, January 8, 2023. While awaiting the meeting outcome, a positive conclusion will pave the way for Ghana to receive…

Cedi Among Top 10 Performing Currencies In Africa Despite Covid-19 Pandemic

Jackson Odom KpakpoBusinessCEDI PERFORMANCE

Cedi Among Top 10 Performing Currencies In Africa Despite Covid-19 Pandemic The cedi has ended the third quarter of this year with a relative strong performance, depreciating by only 2.97 percent against the dollar. It positioned it among the top 10 performing currencies on the African continent this year, amid covid-19. In West Africa, the cedi is second to the CFA Franc in terms of performance, fourth in Sub Saharan Africa and eighth on the continent. It could be on the path of registering one of its strongest performance since 2017. The local currency’s relative strong performance has been largely…