Cedi remains stable with a positive outlook; one dollar going for GH¢16.10

The Ghanaian cedi remained stable last week, bolstered by the successful third review of Ghana’s 3-year Extended Credit Facility (ECF) with the IMF and a balanced foreign exchange market supported by $240.40 million from the Bank of Ghana.

The cedi closed the week at a mid-rate of GH₵16.25 to the dollar and opened the new week at about GH₵16.10 on the retail market, while trading at GH₵14.80 on the interbank market. The year-to-date loss narrowed to approximately 24%.

Analysts anticipate that the IMF’s approval, successful debt restructuring, and the festive season's FX liquidity will strengthen investor confidence, enhance the Central Bank’s interventions, and maintain currency stability. The cedi’s performance reflects improved market sentiment and reduced speculative pressures.