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Cedi Stabilizes as Market Value Aligns, Experts Say

1/26/2025

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Summary

Story summary

Professor Lord Mensah indicates the Ghanaian cedi is aligning with its true market value post-manipulation.
The Bank of Ghana intervened by selling over $200 million to stabilize the cedi in late 2024.
Stability for the cedi is anticipated by March 2025, with a call for reduced dollar demand.
Current exchange rates are GH¢16.10 to the dollar and GH¢19.60 to the pound.

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Story summary

Professor Lord Mensah indicates the Ghanaian cedi is aligning with its true market value post-manipulation.
The Bank of Ghana intervened by selling over $200 million to stabilize the cedi in late 2024.
Stability for the cedi is anticipated by March 2025, with a call for reduced dollar demand.
Current exchange rates are GH¢16.10 to the dollar and GH¢19.60 to the pound.