Ghana Cedi Makes Gains Against Dollar

The Ghana cedi strengthened against the dollar by more than 0.21 percent last week, bringing its year-to-date loss to more than 14 percent.

Current exchange rates for the cedi are 10 cedis and 90 pesewas per dollar on the interbank market and 11 cedis and 50 pesewas at some forex bureaus.

The performance of the cedi has been attributed to the reduction in the dollar's demand pressures.

Despite its solid performance last week, analysts anticipate a mixed performance from the local currency by the end of this week.

The local currency lost 0.33 percent against the pound and 0.79 percent against the euro from the previous week.