13
Dec
Confidence in the foreign exchange market is expected to support the cedi’s rally against the US dollar and the other major foreign currencies in the coming weeks. This follows rising investor sentiments that the country and the International Monetary Fund (IMF) will reach a Staff-Level agreement today. According to Databank Research, it expects a possible IMF programme to turn the economy around. “The Ghana cedi started to see gains against the major trading currencies after the government launched the domestic debt exchange programme. This contributed to easing the pressures as the improved visibility of Ghana’s economic outlook calmed investors’ fears…