The Ghana cedi lost 0.48% to the dollar last week, increasing its year-to-date loss to 1.27% with just 13 days into 2025.
The local currency closed at a mid-rate of GH¢15.68 to one American greenback. It also depreciated by 0.62% to the euro, while it gained 0.26% versus the pound.
It began this week, January 13, 2025, trading at GH¢15.85 to one American greenback.
Looking ahead, the Central Bank plans to auction its first US$20 million to the Bulk Oil Distribution Companies (BDCs) this week.
While the action may help address some demand, analysts expect the cedi to remain under pressure for most of this week as the strong forex demand continues to persist.
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