Story perspectives

Ghana Cedi Strengthens Amid Holiday Demand Drop

1/4/2025

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Summary

Story summary

The Ghana cedi gained strength against major currencies last week, aided by reduced holiday demand and US$20 million sales from the Bank of Ghana.
It appreciated by 1.44% against the US dollar, closing at GH¢15.58/$ in retail.
Governor Dr. Ernest Addison highlighted that monetary policies will enhance cedi stability in 2025.
Analysts foresee potential cedi strengthening, despite a 21.58% year-to-date loss, due to improved reserves and fiscal measures.

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Story summary

The Ghana cedi gained strength against major currencies last week, aided by reduced holiday demand and US$20 million sales from the Bank of Ghana.
It appreciated by 1.44% against the US dollar, closing at GH¢15.58/$ in retail.
Governor Dr. Ernest Addison highlighted that monetary policies will enhance cedi stability in 2025.
Analysts foresee potential cedi strengthening, despite a 21.58% year-to-date loss, due to improved reserves and fiscal measures.