Weekly gains for the Ghanaian cedi relative to the US dollar were 0.63%.

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

The Ghana cedi gained 0.63% week-on-week versus the US dollar last week as demand pressures waned.

The local currency consequently closed the week at GH¢15.96 to one US dollar. This narrowed its year-to-date loss to 1.74%.

Foreign exchange demand pressures appeared subdued last week as the market remained mostly liquid.

The Bank of Ghana offered US$190 million through its daily auctions last week, but only US$84.80 million was absorbed by market participants.

This indicated an acceptance ratio of 44.6%. Additionally, US$65 million traded on the interbank market, boosting liquidity.

Source: newsthemegh.com