The Ghana cedi continued to realize additional floor towards the US greenback, appreciating by 17.17% since January 1, 2025.
It’s going for GH¢13.50 to at least one American buck within the retail market, cementing its place because the world’s finest foreign money.
Final week, the native unit appreciated by 2.3% week-on-week versus the US greenback, 3.5% towards the pound and three.7% to the euro.
This follows an injection of a complete of US$425.50 million by the Financial institution of Ghana into the retail market.
The 124th Financial Coverage Committee (MPC) assembly will start on Wednesday 21st Might, 2025, to twenty third Might 2025, with the coverage resolution set for twenty sixth Might, 2025.
Accordingly, the Financial institution of Ghana would launch the Abstract of Financial and Monetary Information earlier than the announcement of a coverage price.
Databank Analysis stated this dataset, notably the replace on worldwide reserves place, will provide useful insights in assessing the capability of the BoG to maintain its overseas alternate interventions and help for the cedi.
“Within the close to time period, we count on the Ghana cedi to take care of a cautious upward trajectory underpinned by enhancing liquidity circumstances and data-driven sentiments forward of the MPC resolution”, it identified.
Some analysts have questioned the sustainability of the cedi within the medium time period. Nonetheless, the Financial institution of Ghana believes the cedi’s latest strengthening will proceed for a very long time.
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