Cedi begins week with marginal depreciation; one dollar equals GH¢15.80

The cedi continued its marginal depreciation last week, losing 0.16% against the US dollar and trading at an average of GH¢15.79 per dollar, resulting in a year-to-date loss of 1.11%.

However, it closed 0.31% stronger against the euro and depreciated 0.38% against the pound. As of March 10, 2025, the cedi was trading at GH¢15.80 per dollar.

Meanwhile, inflation eased to 23.1% in February 2025, down 40 basis points from January, largely due to a 20 basis point drop in food inflation, with the month-on-month rate falling to 1.3%.

Analysts expect these improvements to boost market sentiment and stabilize the cedi, especially as the Finance Minister prepares to present the 2025 fiscal budget to Parliament on March 11, 2025.