Ghana Cedi Rebounds

The Ghana Cedi regained its balance on the inter-bank market this morning, managing an appreciation against the dollar, the pound and the euro.

It however remains flat against the CFA, pushing the GCS-Cedi Index to gain 0.30 per cent against its major trading currencies.

The Cedi was up by 0.73 per cent against the pound, ending the U.K currency's four-day rally on the inter-bank market.

The Cedi's current year-to-date change against the pound is pegged at -34.79 per cent which is 3.35 percentage points worse than it began trading in the month of October.

The euro also fell to the dominance of the Cedi as it surrendered 1.09 pesewas, representing an upward adjustment of 0.50 per cent.

The CFA, the least traded currency out of the four remained stable against the cedi, closing at an annual depreciation of 21.25 per cent.

The gain by the Ghana cedi managed against the dollar reduces the losses it has accumulated this year from a previous figure of -19.62 per cent to -19.59 per cent.

The local currency was trading between GH¢1.44p and GH¢1.47p to the dollar. It was buying at GH¢2.36p and selling for GH¢2.41p to the pound and was going for GH¢2.12p and GH¢2.16p against the Euro. One Ghana Cedi was quoted between 303 and 309 CFA.

Source: GNA