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The Ghana cedi has lost about 3.66% in value to the US dollar since the beginning of 2024.
The local currency lost ground last week despite improved market liquidity. This came on the back of corporate demand and stronger-than-expected January 2024 inflation.
Cedi loses 3.66% to dollar since January 1; one dollar equals GH¢12.75
Though the depreciation pressures have eased and liquidity has also improved, the local currency still lost 0.40% in value week-on-week to the American greenback last week.
It also shed 0.16% and 0.19% against the pound and the euro on the retail market.
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