Cedi continues rise against dollar

Cedi continues rise against dollar

The Ghana cedi continued to rise steadily against the US dollar amidst the Bank of Ghana’s tight foreign exchange intervention.

The cedi closed on Friday, February 10, 2023, at an indicative rate of ¢10.80 to one US dollar on the interbank market.

It gained 0.81% to the dollar to close at a mid-rate of ¢12.35/US$ on the retail market.

It also recorded a week-on-week appreciation of 2.35% against the pound and 0.38% to the euro on the retail market.

Cedi extends gains against major trading currencies

Cedi chases dollar, ¢1 now ¢12.50

Some analysts claim that the local currency’s recent performance indicates that Ghana is on course to achieve a successful Debt Exchange Programme which consequently will boost market confidence and positively impact the cedi’s outlook.


By GhanaSummary

Filasco News

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