Cedi to dollar Archives - Wontumi Online

15 Oct

Cedi To Record Stability In Near Term; One-Dollar Equals GH¢16.40

wontumionlineBusinessCedi to dollar, DOLLAR RATE

The Ghana cedi will record stability in the near term, helped by Moody’s upgrade of Ghana’s credit rating and the expected US$360 million inflow from the International Monetary Fund. However, it is expected to weaken this week as seasonal demand pressures resurface. Last week, the cedi recorded mixed performance against the major trading currencies. The local unit recorded 1.01% week-on-week losses versus the US dollar due to seasonal demand pressures from the manufacturing and energy sectors. However, it gained 0.35% week-on-week against the pound after the announcement of a possible aggressive policy rate cut in England. Similarly, the local unit…

30 May

Demand Pressures On Cedi Ease; One Dollar Equals GH¢14.90

wontumionlineBusinessCedi to dollar, DOLLAR RATE

The Ghana cedi posted a mixed performance last week as demand pressures on the US dollar eased for most of the week. However, this week, the cedi is expected to extend its losing run albeit marginally because foreign exchange demand is outstripping supply. But it began the week stable to the American greenback with the year-to-date depreciation at 17.88%. It is presently going for GH¢14.90 to a dollar on the retail forex market. Despite the Central Bank not intervening in the spot market, the cedi gained 0.17% week-on-week against the US dollar to end the week’s trades at a mid-rate…

12 Mar

Cedi Regains Some Stability Against Dollar; One Dollar Going For GH¢13.10

wontumionlineBusinessCEDI, Cedi to dollar

The Ghana cedi regained some stability against the US dollar last week, preserving its year-to-date loss of about 6.35%. After a difficult period in the past two weeks, the cedi regained its footing as it firmed against the major trading currencies. Although corporate demand exerted some pressure on the local currency, the Bank of Ghana’s marginal $17 million market intervention helped hold the cedi steady. As a result, it advanced by 0.93% and 1.43% week-on-week versus the pound and the euro but remained unchanged against the dollar at a mid-rate of GH¢13.05 to a dollar on the retail market. Meanwhile,…

14 Dec

Cedi Appreciates As $1 Now Goes For ¢10.70

wontumionlineBusinessCedi to dollar, Ken Ofori Atta

The Ghana cedi has in less than five hours today, December 14, 2022, gained 5.6% value against the US dollar, resulting in a cumulative gain of approximately 33.6% in the month of December alone. $1 is now trading at an average rate of ¢10.70 with a market range spanning GH¢10.70 to GH¢11.28. This put the cedi as the strongest performing currency against the American ‘greenback’ in December 2022. The cedi slumped by more than 54% against the dollar before December 2022. However, it has strengthened by more than 33% since the beginning of December 2022 after Finance Minister, Ken Ofori-Atta, launched government’s domestic debt exchange programme, followed by the latest…