Cedi projected to trade between GH¢10.95 and GH¢11.76 to $1 by end of September
By: Benjamin Nii Nai Anyetei The Ghana cedi is expected to remain relatively stable against the US dollar through September, with analysts projecting the currency to trade within a range of GH¢10.95 to GH¢11.76 to the dollar as the Bank of Ghana is expected to increase its foreign exchange support ahead of the festive season. […]
The Ghana cedi is projected to remain relatively stable against the US dollar through September, with analysts predicting the currency to trade within a range of GH¢10.95 to GH¢11.76 to the dollar. This outlook is based on the Bank of Ghana's expected increase in foreign exchange support ahead of the festive season, which has helped ease pressure on the cedi and limit speculative positioning.
Despite the cedi's mixed performance in August, where it strengthened significantly early in the month before weakening by the end, analysts believe central bank interventions and seasonal demand will determine the currency's direction in September.
Brief written by urgent.news from GBC Ghana's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
