Cedi Performance

Cedi Performance: BoG Rates Increasing Marginally, $1 Sells At GH¢15.90 At Forex Bureaus
21 Feb

Cedi Performance: BoG Rates Increasing Marginally, $1 Sells At GH¢15.90 At Forex Bureaus

CUD Wontumi0 CommentsBusiness
Ghana's local currency, the cedi, has experienced marginal losses on the interbank foreign exchange market since last month. The Central Bank's exchange rates have been steadily increasing since the beginning of the year. Against major trading currencies, particularly the US dollar, the cedi has lost some value at various forex bureaus. In its daily update, the Central Bank noted that the cedi is trading at a buying price of GH¢15.54 and a selling price of GH¢15.55 to the dollar. The British pound is being bought at GH¢19.64 and sold at GH¢19.66, while the euro trades at a buying price of…
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Cedi To Close Year Stable
11 Dec

Cedi To Close Year Stable

wontumionlineBusiness,
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…
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Cedi’s Performance Remained Unchanged To Dollar In First Week Of 2024; One Dollar Equals ¢12.20
10 Jan

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

wontumionlineBusiness, ,
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…
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