Ghanaian Cedi Depreciates by 5.86%, Central Bank Intervenes with $350 Million

The Ghanaian Cedi has depreciated by 5.86% against the US dollar. In response, the Bank of Ghana plans to intervene with $350 million to address the persistent build-up in foreign exchange demand and market volatility.

5 May, 16:14 — 5 May, 16:14

Post Share

Sources

Showing 1 of 1 sources

myjoyonlineMixed1h ago

Cedi depreciation against dollar hits 5.86%, but BoG increases support to tackle pressures

The regulator disclosed to the dealers that additionally the “Bank has observed a persistent build-up in FX [forex] demand and volatility in the FX market, as reflected in recent auction bids and will therefore intervene with US$350 million solely to cover residual unmet bids from the auction”.

By Charles Nixon

Read full article →

PERSPECTA

PERSPECTA

Ghanaian Cedi Depreciates by 5.86%, Central Bank Intervenes with $350 Million

Sources

Cedi depreciation against dollar hits 5.86%, but BoG increases support to tackle pressures

Related Stories

Oil Jumps Above $100 After US-Iran Talks Fail

Manila Water Ranks Among Top 10 in ATRAM SDG Fund

Nigerian SEC Warns Companies on Weak Sustainability Reporting

Romanian Investor Marius Ghenea Comments on Post-No-Confidence Vote Sentiment

PERSPECTA