{
  "id": 107649,
  "title": "Cedi depreciates further but maintains a firm grip on forex support",
  "url": "https://urgent.news/2026/08/03/cedi-depreciates-further-but-maintains-a-firm-grip-on-forex-support",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-03T23:24:54.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/cedi-depreciates-further-but-maintains-a-firm-grip-on-forex-support/"
  },
  "original_language": "en",
  "account": null,
  "summary": "The Ghana cedi has seen a slight depreciation in the interbank market over the past two weeks, though it has remained relatively stable in the retail segment. The cedi depreciated by 0.47% against the US dollar, 1.36% against the pound sterling, and 1.58% against the euro, closing at mid-rates of GH¢11.69 to a US dollar, GH¢15.74 to the pound, and GH¢13.46 to the euro. In the retail market, the cedi eased marginally by 0.21% against the US dollar, trading at GH¢12.13 per dollar, while the pound and euro remained largely unchanged. Despite the Bank of Ghana providing an estimated US$1.0 billion in forex support in July 2026, the cedi fell 2.91% month-on-month, reversing June's 3.35% appreciation. Databank Research predicts that the Bank of Ghana's US$1.0 billion August FX intermediation, combined with the recent US$371 million IMF ECF disbursement, will provide a liquidity buffer and stabilize market expectations. However, commercial demand and energy-related imports are expected to keep the cedi on a mild weakening path, with upside in the US dollar/Ghana cedi likely capped near GH¢11.85 and downside supported around GH¢11.40/US dollar.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}