The Ghana cedi continued its strong performance against the US dollar in the retail market on February 17, 2025, trading at an average of GH¢15.75, following a near GH¢15.95 on February 14, 2025.
The cedi’s year-to-date loss stood at 0.63%.
Analysts expect the local currency to remain steady this week, likely trading between GH¢15.50 and GH¢15.70 by week’s end, as subdued corporate demand helps limit volatility.
However, the outlook for the coming months remains cautious due to diminishing foreign exchange support, repatriation, and rising demand pressures that may threaten the cedi’s stability.
Despite experiencing modest depreciation in the interbank market, the cedi remained stable in the retail market last week.
While stability in the retail market was supported by subdued demand pressures, volatility in the interbank market was primarily driven by tight foreign exchange supply.
The cedi closed last week at GH¢15.95 to one US dollar, reflecting a slight weekly gain of 0.48%. It held steady against the British pound at GH¢19.50 but weakened marginally by 0.31% against the euro, settling at GH¢16.25.
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