The Ghana cedi recorded some gains last week against the US dollar and the other major foreign currencies after weeks of sustained depreciation.
This was buoyed by improved market liquidity.
The recovery came amidst resurfacing corporate demand pressure, largely due to seasonal demand ahead of the yuletide.
The Bank of Ghana (BoG) sold US$37 million during the 7-day forward auction while also auctioning US$20 million to the Bulk Oil Distributing companies.
Following BoG’s support, the cedi gained 0.46% week-on-week to the dollar. It ended the week trading at a mid-rate GH¢16.40 to one American greenback.
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