The Ghana cedi will record stability in the near term, helped by Moody's upgrade of Ghana’s credit rating and the expected US$360 million inflow from the International Monetary Fund.
However, it is expected to weaken this week as seasonal demand pressures resurface.
Last week, the cedi recorded mixed performance against the major trading currencies.
The local unit recorded 1.01% week-on-week losses versus the US dollar due to seasonal demand pressures from the manufacturing and energy sectors.
However, it gained 0.35% week-on-week against the pound after the announcement of a possible aggressive policy rate cut in England.
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