{"id":273066,"date":"2024-12-30T20:25:41","date_gmt":"2024-12-30T20:25:41","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/30\/cedi-gained-1-44-to-dollar-last-week-one-dollar-going-for-gh%c2%a215-75\/"},"modified":"2024-12-30T20:25:41","modified_gmt":"2024-12-30T20:25:41","slug":"cedi-gained-1-44-to-dollar-last-week-one-dollar-going-for-gh%c2%a215-75","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/30\/cedi-gained-1-44-to-dollar-last-week-one-dollar-going-for-gh%c2%a215-75\/","title":{"rendered":"Cedi gained 1.44% to dollar last week; one dollar going for GH\u00a215.75"},"content":{"rendered":"<br><div id=\"article-text\">\n                       \n                        \n<p class=\"wp-block-paragraph\">The Ghana cedi strengthened across the major currencies last week amid thin forex liquidity as yuletide demand appeared to have waned.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Bank of Ghana sold US$20 million to Bulk Oil Distributors at a forward rate of GH\u00a214.7690\/$ compared to GH\u00a214.8133\/$ in the previous auction, indicating slowing demand pressures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Without the Bank of Ghana\u2019s daily forward sales, the local unit gained 1.44% week-on-week versus the US dollar to GH\u00a215.58\/$ on the retail market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It also appreciated by 2.86% against the pound and 3.70% to the euro respectively on the retail market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So far this year, the local currency has lost about 21.58% in value to the American greenback.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It began today going for GH\u00a215.75 against the US dollar. The Bank of Ghana also quoted GH\u00a214.71 to one dollar on the interbank market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Last week, the Central Bank released the foreign exchange auction calendar for the first quarter of 2025, confirming a consistent allocation of US$20 million per auction for the initial six auctions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Given the easing demand, ongoing seasonal liquidity, and the anticipated total auction amount of US$ 120 million for the first quarter, analysts believe there is potential for the cedi to remain well-supported in the coming days.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Consequently, the local unit is expected to strengthen this week.<\/p>\n\n                <p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>      \n               \n <!-- Post Tags -->\n                \n\n                        \n\n    \n                                 \n                                             \n                    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Ghana cedi strengthened across the major currencies last week amid thin forex liquidity as yuletide demand appeared to have waned. The Bank of Ghana sold US$20 million to Bulk Oil Distributors at a forward rate of GH\u00a214.7690\/$ compared to GH\u00a214.8133\/$ in the previous auction, indicating slowing demand pressures. Without the Bank of Ghana\u2019s daily [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":120102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-273066","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cedi gained 1.44% to dollar last week; one dollar going for GH\u00a215.75 - 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\/12\/30\/cedi-gained-1-44-to-dollar-last-week-one-dollar-going-for-gh\u00a215-75\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cedi gained 1.44% to dollar last week; one dollar going for GH\u00a215.75 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Ghana cedi strengthened across the major currencies last week amid thin forex liquidity as yuletide demand appeared to have waned. The Bank of Ghana sold US$20 million to Bulk Oil Distributors at a forward rate of GH\u00a214.7690\/$ compared to GH\u00a214.8133\/$ in the previous auction, indicating slowing demand pressures. Without the Bank of Ghana\u2019s daily [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/12\/30\/cedi-gained-1-44-to-dollar-last-week-one-dollar-going-for-gh\u00a215-75\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-30T20:25:41+00:00\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/12\\\/30\\\/cedi-gained-1-44-to-dollar-last-week-one-dollar-going-for-gh%c2%a215-75\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/12\\\/30\\\/cedi-gained-1-44-to-dollar-last-week-one-dollar-going-for-gh%c2%a215-75\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Cedi gained 1.44% to dollar last week; 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