Ghana’s cedi is improving marginally on external tailwinds and sentiment.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Ghana cedi is recovering modestly on external tailwinds and sentiment. Over the past fortnight, the cedi encountered mild demand-driven pressures in the opening week, as anticipated.

However, it clawed back losses in the latter half as broad-based “sell America” sentiment underpinned external support.

In the interbank market, the cedi appreciated by 0.09% against the US dollar, 0.86% against the pound sterling, and 1.16% against the euro, closing at mid rates of GH¢10.97 to the US dollar, GH¢14.81 to the pound and GH¢12.93 to the euro.

The positive momentum filtered through to the retail segment, where the currency strengthened by 0.6% against the US dollar, 1.29% against the pound sterling, and 1.11% against the euro.

It settled the period at mid-rates of GH¢11.63/US dollar, GH¢15.55/pound and GH¢13.50/euro.

Source: newsthemegh.com