The worst may be over for Ghana’s battered cedi, with analysts expecting it to only weaken modestly between now and December elections following steep falls earlier in the year.
The currency of the world’s second-largest cocoa producer may end the year at 15.97 per dollar, said Oyinkansola Samuel, an analyst at FirstRand Ltd.’s RMB Nigeria unit. That’s just 2% weaker than current levels around 15.63 per dollar, after it shed around 23% of its value against the greenback — a slide that made it the fifth-worst performing currency tracked by Bloomberg this year.
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