interbank market

The outlook of the cedi is expected to be stable this week despite the near-term outlook remaining a concern. Many analysts believe the local currency will benefit from the weakening dollar. The cedi is expected to continue its fine run in the lead-up to the Monetary Policy Committee (MPC) meeting from tomorrow July 19, 2023, and the press conference slated for Monday, July 24. Beyond July, the local currency’s outlook will hinge on progress with external debt restructuring, the revised fiscal framework, COCOBOD’s annual cocoa loan syndication, and a successful first review of the International Monetary Fund programme. Cedi remained…