Tag: Ghana cedi
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Foreign inflows and BoG measures will see cedi depreciate by 4% in 2021 – Economist
Renewed inflow of foreign portfolio investment coupled with some measures by the Bank of Ghana such as the forex forward auctions should see the Cedi depreciate marginally by about 4 percent for all of 2021. That’s according to an economist with Databank Courage Martey. After depreciating by more than 8 percent and 12 percent against…
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Currency that never gains gets Ghana Central-Bank lifeline
Ghana’s cedi has weakened every year since at least 1994. Now the central bank appears to have drawn a line in the sand, ready to intervene should the currency slip out of the tight range it’s held since May. The Bank of Ghana has sold dollars in the spot and forward markets to stabilize the…
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Cedi’s stability backed by Ghana’s diverse export base, other factors – Economist
Economist with DataBank, Courage Kingsley Martey is confident the Ghana Cedi will remain stable when compared to its peers on the African continent for the rest of the year, even against the backdrop of the unfolding coronavirus pandemic. Out of some 15 key currencies on the continent evaluated by Databank, the Cedi remained relatively stable…
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Reduced Chinese imports to hit Ghana’s economy despite cedi’s gain – Health Economist
A health economist, Dr. Gordon Abekah-Nkrumah, says suggestions that the Ghana cedi may have strengthened against the US dollar partially due to reduced imports from China over the outbreak of the coronavirus could be true. However, Dr. Abekah-Nkrumah, speaking on the Citi Breakfast Show, stated that despite the gains made by the local currency, the…
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Bright Simons writes: BoG’s murky explanations on the GH¢100 and GH¢200 notes
The Bank of Ghana (BoG) on November 29th, 2019, released a document justifying the need for the introduction of “higher-value denomination” currency (HVD) notes. The question of whether HVD notes are warranted at any point in time is not a merely conceptual one. It is, in fact, a highly empirical enquiry to be approached from a careful…
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Cedi’s performance worst in 3-years ahead of election 2020
The cedi’s perennial struggles against the US dollar does not seem to go away as this year’s performance is rated as the worst in the three-year-old Akufo-Addo administration. According to data from the Bank of Ghana, the cedi depreciated by about 10.6 percent against the greenback compared to the 8.21 percent depreciation achieved last year.…