Tag: Cedi Depreciation
-
Gov’t defends measures to halt cedi depreciation soon
The government has maintained that it has put in place robust measures to halt the free fall of the cedi in the coming weeks. According to Dr. Gideon Boako, Spokesperson for the Vice President, Dr. Mahamudu Bawumia, efforts to reduce inflation and increase the availability of foreign reserves, point to a foreseeable halt in the…
-
Cedi to stabilise by end of March 2018
Currency analysts have predicted a relative stability of the cedi against the dollar, Euro and British Pound by the end of March this year – 2018. This comes despite the depreciation of the cedi in relation to the three major trading currencies. The perennial depreciation of the cedi has among others, impacted the planning of…
-
Cedi depreciation remains key concern for businesses
Business owners in Accra have identified the cedi’s depreciation as their major challenge and want the government to stem the situation. They contend that the development continues to impact their operations adversely hence require a solution to the perennial issue. The comments come three days ahead of the President Akufo Addo’s state of the nation…
-
Cedi depreciates 3.4% to dollar in 2017
The cedi’s losing streak against major trading currencies continues on the foreign exchange market. Even though there is an indication of a marginal improvement in the cedi’s performance, the currency is still struggling to stabilize against major ones. According to the Bank of Ghana, between May and December 2017, the cedi depreciated by 3.4 percent…
-
Mixed reactions meet GH¢6 to $ 1 prediction
There are mixed reactions to the prediction that the cedi will depreciate to 6 cedis to a dollar by 2022. The Economist Intelligence Unit (EIU) based in the UK, has predicted that the local currency will perform poorly against the dollar within the next four years due to some external pressures and political uncertainties. But…
-
Cedi depreciates by 5% in 2017
Some currency analysts have predicted that the cedi’s depreciation is expected to continue, at least to the end of 2017. Citi Business News’ analysis shows a continuous streak of the local currency for a greater part of this year. For this year alone, the cedi has depreciated by about 5 percent on the interbank foreign…
-
Fuel prices to drop again in October
Consumers are expected to pay less at the pumps in the second pricing window of October. This is according to the Institute of Energy Security (IES) who have predicted a reduction in fuel prices of up to three percent. Fuel prices since the beginning of this year (2017), have seen marginal increase due to the…
-
Cedi depreciation to hit 4th quarter
The cedi should begin its losing streak against the dollar from next month (October) if nothing is done to stem the situation. This is the caution from currency analysts. Their arguments are premised on the potential rise in the demand for the dollar by importers and vendors ahead of the festive season. Citi Business News’…
-
Cedi stability drives mortgage rates down by 40%
Businesses want government to sustain efforts geared at stabilizing the cedi to foster growth. Following what they say is the relative stability of the local currency, the businesses fear they will be worse off should the minimal gains be eroded. A cross section of businesses that Citi Business News has been engaging in a review…
-
4th IMF tranche to stabilize cedi fall – Analysts
Investment fund managers are upbeat of the impact of the disbursement of the fourth tranche of the IMF’s extended credit facility, on the stabilization of the cedi. They believe the move should also bring some stability to the economy and bring respite to businesses. Finance Minister, Ken Ofori Atta has hinted of a meeting between…