Foreign Exchange

The cedi is expected to continue its marginal gain this week as foreign exchange liquidity improves. This follows the Bank of Ghana’s timely intervention. Banks sought to exchange about $750 million for cedi liquidity in a bid to comply with the Bank of Ghana’s unified currency reserves. The local currency witnessed some relief last week. Amidst a one million dollar foreign exchange support from the Central Bank, the local unit gained 0.82% weekly, eventually trading at a mid-rate of ¢12.18 to one dollar. Similarly, the cedi closed stronger by 2.51% and 0.16% week-on-week against the pound and the euro in…