The Ghanaian cedi has declined during the past two weeks as demand for foreign exchange increases.

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

The Ghana cedi slipped in the last two weeks as the demand for foreign exchange builds amid external pressures.

The local currency depreciated modestly across both the interbank and retail forex markets, driven by a combination of domestic demand pressures and external factors.

On the interbank market, the local currency weakened by 1.55% against the dollar, 1.66% against the pound, and 0.90% to the the euro, closing at mid-rates of GH¢10.94 against US dollar, GH¢14.62 to the the pound and GH¢12.61 to the euro.

This trend was mirrored in the retail segment, where the cedi depreciated by 0.43% against the American greenback to GH¢11.60 and 1.62% against the pound to GH¢15.40, respectively.

It remained broadly stable to the euro at GH¢13.45.

Source: newsthemegh.com