The Ghana cedi will recoup some losses in the coming days following an improved performance against the US dollar last week.
The local unit gained 0.10% against the American greenback last week to close trading at GH¢15.69. This performance signalled good times ahead.
The cedi held ground against the dollar as soft US inflation data spurred bets that the Federal Reserve would ease interest rates in September 2024.
This caused the American greenback to dip against a basket of currencies.
Analysts, however, expect the local unit to trade sideways against the American greenback as corporate demand pressures appear to be resurfacing in the market.
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