{"id":1246391,"date":"2022-11-08T09:57:04","date_gmt":"2022-11-08T09:57:04","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/08\/cedi-to-witness-mixed-performance-this-week-report\/"},"modified":"2022-11-08T09:57:04","modified_gmt":"2022-11-08T09:57:04","slug":"cedi-to-witness-mixed-performance-this-week-report","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/08\/cedi-to-witness-mixed-performance-this-week-report\/","title":{"rendered":"Cedi to witness mixed performance this week \u2013 Report"},"content":{"rendered":"

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The Ghana cedi will continue to see a mixed performance this week against the US dollar.<\/p>\n

This is coming after a mild appreciation against the dollar and the euro last week.<\/p>\n

It closed the week with a bid\/offer rate of \u00a213.00\/\u00a213.01 to the dollar on the interbank market and \u00a213.40\/\u00a214.50 on the retail market.<\/p>\n

On the Foreign Exchange (FX) forward auction market, the Bank of Ghana received total bids of $60 million and allotted all for the Bulk Oil Distribution Companies.<\/p>\n

The submitted bids were within the \u00a210.1000 \u2013 \u00a213.500 per US dollar range.<\/p>\n

Analysts expect the cedi to continue to see a mixed performance this week as Fitch reported that it sees more than a 50% chance of default on Ghana\u2019s debt repayment.<\/p>\n

Cedi depreciates after recent gains<\/strong><\/p>\n

After ending last week with a marginal appreciation, the Ghana cedi has returned to a depreciation trajectory.<\/p>\n

The cedi opened this morning November 7, 2022, going for \u00a213.95 to one US dollar in the retail or forex market.<\/p>\n

However, it has since declined in value to \u00a214.20 to one American \u2018greenback\u2019, the average quote by the forex bureaus indicates.<\/p>\n

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The Ghana cedi will continue to see a mixed performance this week against the US dollar. This is coming after a mild appreciation against the dollar and the euro last week. It closed the week with a bid\/offer rate of \u00a213.00\/\u00a213.01 to the dollar on the interbank market and \u00a213.40\/\u00a214.50 on the retail market. On […]<\/p>\n","protected":false},"author":1,"featured_media":1183695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[672,2874,1460,1584,602,10632],"class_list":["post-1246391","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-cedi","tag-mixed","tag-performance","tag-report","tag-week","tag-witness"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1246391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1246391"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1246391\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1246391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1246391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1246391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}