{"id":139794,"date":"2024-01-16T16:38:34","date_gmt":"2024-01-16T16:38:34","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/01\/16\/cedi-weakened-1-22-to-dollar-last-week-one-dollar-going-for-%c2%a212-30\/"},"modified":"2024-01-16T16:38:34","modified_gmt":"2024-01-16T16:38:34","slug":"cedi-weakened-1-22-to-dollar-last-week-one-dollar-going-for-%c2%a212-30","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/01\/16\/cedi-weakened-1-22-to-dollar-last-week-one-dollar-going-for-%c2%a212-30\/","title":{"rendered":"Cedi weakened 1.22% to dollar last week; one dollar going for \u00a212.30 \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The cedi weakened 1.22% to the US dollar in the retail market last week, following depreciation pressures.<\/p>\n<p>It also lost 0.65% to the pound and 0.19% against the euro on the retail market, despite Ghana\u2019s inflation cooling to 23.2% in December 2023.<\/p>\n<p>Though the Central Bank auctioned 20 million dollars for the Bulk Oil Distribution Companies in its first sale for 2024, it failed to tame the persistent corporate demand.<\/p>\n<p>The cedi closed trades on the retail market or the forex bureaus at GH\u00a212.33\/$ against GH\u00a212.18\/$ the previous week.<\/p>\n<p>However, many analysts believe the expected $600 million inflows from the International Monetary Fund (IMF) after its board approval of the first review of Ghana\u2019s programme this Friday, January 19, 2024, should help improve market sentiments.<\/p>\n<p>This will consequently shore up foreign exchange reserves and strengthen supply-side intervention.<\/p>\n<p>Government last Friday, January 12, 2024, reached debt restructuring agreements with its official creditors, a move seen by many as a step in Ghana\u2019s economic recovery.<\/p>\n<p>So far this year, the local currency has lost about 1.50% in value to the dollar in the retail market.<\/p>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The cedi weakened 1.22% to the US dollar in the retail market last week, following depreciation pressures. It also lost 0.65% to the pound and 0.19% against the euro on the retail market, despite Ghana\u2019s inflation cooling to 23.2% in December 2023. Though the Central Bank auctioned 20 million dollars for the Bulk Oil Distribution [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":135389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-139794","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cedi weakened 1.22% to dollar last week; one dollar going for \u00a212.30 \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/01\/16\/cedi-weakened-1-22-to-dollar-last-week-one-dollar-going-for-\u00a212-30\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cedi weakened 1.22% to dollar last week; one dollar going for \u00a212.30 \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The cedi weakened 1.22% to the US dollar in the retail market last week, following depreciation pressures. It also lost 0.65% to the pound and 0.19% against the euro on the retail market, despite Ghana\u2019s inflation cooling to 23.2% in December 2023. 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