Tag Archives: Cedi

Cedi Remains flat this week

cedi depreciation

The Ghana cedi is seen flat this week as dollar inflows continued to thin out amid a week-long sale of a six billion cedi ($1.36 billion) government-sponsored energy bonds that ended on Friday, analysts said. The cedi, which has been fairly steady in recent weeks, weakened marginally last week on renewed corporate dollar demand. It was trading at 4.4075 to ...

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Mixed reactions over Bank of Ghana’s New Minimum Capital

capital

The central bank has decided to increase the minimum stated capital requirement for commercial banks to GH?400 million, a more than 230 percent increment, the central bank has said. The central bank is said to have met the various heads of commercial banks Friday morning and told them they have up to December 2018 to meet the new minimum capital ...

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Why Bank of Ghana May Cut Key Rate

Bank of Ghana

Bank of Ghana may cut its key interest rate for a third straight meeting with inflation at its slowest in four years and a strengthening currency. Consumer-price growth has tumbled 7.1 percentage points since reaching an all-time high of 19.2 percent in March last year. While the cedi weakened to a record low against the dollar on March 2, it ...

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Cedi in last ditch Q1 revival …regains 1.3 percent in a week

cedi depreciation

After a torrid performance by the local currency against the US dollar for a greater part of the first quarter of this year, the cedi has regained more than one percent of its lost value over the past week. The cedi, as at March 10th, was trading at GH¢4.603 with the greenback on the interbank market, indicating a year-to-date depreciation ...

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Election, seasonal demand mount pressure on cedi

west africa

The cedi could be in for its toughest test this time in the year, as seasonal demand for the US dollar by importers and the uncertainties surrounding the impending elections have begun to unsettle it somewhat. At a year-to-date depreciation of 4.6 percent, the careworn currency has demonstrated rare resilience, but an analysis of the final quarter performance shows some ...

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