Business

News

Entertainment

Sports

Africa

TV

Country

Webbers

Lifestyle

SIL

Cedi continues to strengthen on retail market; one dollar going for GH¢15.64

Cedi  Dollar  2024 Cedi and dollar notes

Tue, 23 Jul 2024 Source: Joy Business

The Ghana cedi strengthened against the US dollar last week, gaining 0.29% to trade at GH¢15.64/$ due to rising corporate demand and expectations of a potential US Federal Reserve rate cut.

This marks the second consecutive week of gains for the cedi. It also remained stable against the British pound and euro amid calming market uncertainties in the Eurozone.

Finance Minister Dr. Mohammed Amin Adam will present the 2024 Mid-Year Budget Review to Parliament, offering insights into the economic and fiscal performance for the first half of the year.

Despite recent gains, the cedi has depreciated about 21% against the US dollar this year.

Read full article

Source: Joy Business