The Ghana cedi showed mixed performance on the currency market last week. It gained 1.06% against the US dollar in the retail market, trading between GH¢11.40 and GH¢11.90. However, it depreciated by 1.41% on the interbank market, closing at GH¢10.65 to the dollar.
Year-to-date, the cedi has strengthened by 31.85%, ranking among the world’s best-performing currencies. It also appreciated 0.64% against the pound, ending at GH¢15.65/GBP. But the local currency slipped 0.73% against the euro, closing at GH¢13.70/EUR.
Databank Research noted modest stability despite corporate demand pressures and thin FX support. Analysts expect short-term pressure on the cedi as global market conditions shift.
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