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Cedi continues to strengthen on retail market; one dollar going for GH¢15.64

Cedi has fallen by more than 30% so far in 2022

The Ghana cedi extended its rally against the US dollar last week, amidst rising corporate demand.

The market continued to cling to a potential rate cut by the US Federal Reserve soon, contributing to the weakening American greenback.

As a result, the local currency gained 0.29% week-on-week vs the dollar to end the week’s trades at a mid-rate of GH¢15.64/$ on the retail market.

This is the second week the cedi is making gains against the world’s most important currency.

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