Cedi Strengthens As Investor Buys Bonds

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    Ghana’s currency, the cedi, strengthened as an investor outside the country bought 7.3 million cedis ($4.9 million) in government bonds, increasing the domestic supply of dollars, according to Access Bank Plc.
    The cedi traded at 1.4840 to the dollar at 2:58 p.m. in Accra, the Ghanaian capital, from 1.4865 earlier, according to the bank’s data.
    “The inflow that came in to settle the bond sale caused it to gain,” said Biggles Joseph Amponsah, a currency trader at the lender. “Today seems a bit liquid on the dollar side.”
    Source: BLoomberg