Since the start of the year, the cedi has lost about 24% of its value
The depreciation of the Ghana cedi is expected to slow down this week as demand for foreign currency eases.
This follows the Bank of Ghana's recent intervention, injecting $28 million into the market through a 7-day forward auction and an additional $20 million to Bulk Oil Distributing Companies.
These measures stabilized the cedi for the remainder of the week.
Despite this, the cedi depreciated by 1.84% against the US dollar last week, closing at GH¢16.28.
Since the start of the year, the cedi has lost about 24% of its value.
Deloitte West Africa suggests that Ghana's recent debt restructuring deal could positively impact the cedi and reduce imported inflation.
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