Cedi to Trade Between GH¢10.95 and GH¢11.76 by End of September

The Ghanaian cedi is expected to remain stable against the US dollar through September, according to analysts. The currency's performance in August was mixed, trading largely around GH¢11.00 despite a brief strengthening to GH¢10.95.

However, by the end of the month, the cedi had weakened to GH¢11.25 against the dollar, and losses on the interbank market accumulated to 2.67% against the dollar, 2.55% against the pound sterling, and 2.72% against the euro.

Despite this depreciation, the currency's year-to-date loss improved to 6.89% by the end of August compared to 10.04% at the end of July.

The Bank of Ghana's intervention in the foreign exchange market helped ease pressure on the cedi and limit speculative positioning.