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Stay Active, Stay Happy. Lady Entertains Her Fans.

Stay Active, Stay Happy. Lady Entertains Her Fans.

 

Ghana Cedi Under Pressure As Dollar Demand Outpaces Supply At Eleven Cedis

 

Ghana's cedi is back under pressure against the dollar as corporate demand outpaces supply. LSEG data showed cedi trading at 11.00 to dollar Thursday, compared to 10.90 week earlier. 

Stanbic Bank trader Ronald Mensah said dollar demand from local corporates and offshore players renewed pressure, with central bank spot auctions still main supply source. 

The cedi had appreciated to 10.94 on August 17 from 11.75, gaining 6.9% in one week, but now sliding again. 

Bank of Ghana measures and 14.5% prime rate yet to stabilize currency as importers rush for dollars ahead of Christmas season

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