Cedi begins week strongly; Gains nearly 50% in value to dollar, one dollar equals GH¢10.98

The Ghana cedi started this week strong. It gained slightly against the US dollar in the retail market.

Currently, it sells for GH¢10.98 in retail and GH¢10.25 in interbank markets.

This year, the cedi has increased nearly 50% against the dollar.

Last week, it continued to improve due to steady foreign inflows. Demand for hard currency remained soft.

In the interbank market, the cedi gained 6.52% week-on-week against the dollar. It is now the top performer among 15 sub-Saharan African currencies.

In retail, it appreciated by 12.3% versus the dollar, 9.6% against the pound, and