Investment Times

The pressure on the Ghanaian cedi is easing, signalling a strong performance for the local currency after weeks of decline. This positive trend aligns with analysts’ projections that the Cedi's depreciation would be reversed by mid-year, thanks to interventions in the forex market by the Bank of Ghana. The cedi has been gaining ground against major trading partners. Last week, it appreciated by 1 per cent against the US dollar, 2 per cent against the British pound, and recovered 3 per cent of its losses against the euro. Recently, the Bank of Ghana injected $11 million into the spot market...