The Ghana cedi recovered slightly against the US dollar and the other major foreign currencies last week.
This follows announcement that Ghana had secured a significant participation rate from its Euro bondholders to restructure $13bn of its international debt.
Again, the International Monetary Fund reached a Staff Level Agreement with Ghana on the Extended Credit Facility programme on Friday, October 4, 2024.
The cedi gained 0.09% week-on-week to the American greenback and close at a mid-rate of GH¢16.19/$. It also appreciated 0.35% week-on-week against the pound and 0.28% week to the euro.
The performance of the local unit is expected to continue in the near term.
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