Ghana news briefing
Cedi remains under pressure due to Christmas demand; going for GH¢11.90 at forex bureaus
By GhanaSummary Newsroom1 min read
Externally, the Fed’s September rate hike and subsequent dollar strength added further pressure on the cedi, while weakness in the pound and the euro provided some cross-rate support.
Databank Research attributed the cedi’s weakness against the US dollar to sustained forex demand from the energy and manufacturing sectors.
The cedi remained under pressure over the fortnight, extending its year-to-date depreciation against the US dollar to 10.
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