Analysts predict persistent colatility for Cedi as It tops GHS 17 to Dollar amid election concerns
Market analysts are projecting ongoing volatility for the cedi, which has now exceeded GHS 17 against the US dollar as uncertainty surrounding Ghana’s upcoming general elections intensifies. Experts caution that the local currency could experience further fluctuations and upward pressure in the coming months. In October 2024 alone, the cedi depreciated by 3.95% against the dollar, contributing to a year-to-date decline of nearly 29%. This is at odds with recent statements by Bank of Ghana Governor Dr. Ernest Addison, who voiced optimism about the cedi’s potential recovery against the dollar. Adding to the strain, the cedi weakened last week by...
