Ghana Cedi Seen Stable Against Dollar in September

The Ghanaian cedi is expected to maintain stability against the US dollar in September, according to analysts at Databank. They forecast a trading range of GH¢10.95 to GH¢11.76 per dollar.

The central bank's interventions and foreign exchange support are seen as key factors contributing to this relative calm in the market. However, higher demand for dollars ahead of the festive season could put pressure on the cedi.

In August, the cedi performed mixedly, strengthening to GH¢10.95 against the dollar but ending the month at around GH¢11.25. The Bank of Ghana supplied $912 million to the market in August, representing 91.2% of its planned $1 billion intervention.