Exchange Rate: Cedis to a dollar to end at GH¢15.91 by end of 2024 – IC Securities forecasts
Research firm IC Securities has revised its end-2024 forecast for the US dollar to Ghana cedi exchange rate to GH¢15.91/US$, up from its initial projection of GH¢13.2/US$. This adjustment is attributed to the current macroeconomic environment. In a statement, IC Securities explained the rationale behind the revision. "Following the unexpected cut in the policy rate by the Bank of Ghana in January 2024, we noted the potential for increased selling pressure on the local currency. Initially, we delayed raising our forecast, anticipating programme-related inflows and the final tranche of the cocoa syndicated loan for the 2023/2024 season. However, these inflows...
