Cedi continues to strengthen on retail market; one dollar going for GH¢15.64

The Ghana cedi strengthened against the US dollar last week, gaining 0.29% to trade at GH¢15.64/$ due to rising corporate demand and expectations of a potential US Federal Reserve rate cut.

This marks the second consecutive week of gains for the cedi. It also remained stable against the British pound and euro amid calming market uncertainties in the Eurozone.

Finance Minister Dr. Mohammed Amin Adam will present the 2024 Mid-Year Budget Review to Parliament, offering insights into the economic and fiscal performance for the first half of the year.

Despite recent gains, the cedi has depreciated about 21% against the US dollar this year.