Cedi to remain stable this week; one dollar going for GH¢14.90

The Ghana cedi is expected to gain stability due to significant foreign exchange inflows following measures announced by the Bank of Ghana during the May 2023 Monetary Policy Committee meeting.

The government received a $103 million grant from the African Development Bank and a $250 million loan from the World Bank's International Development Association to support Ghana's financial stability fund.

These inflows boosted the foreign exchange supply, helping to stabilize the cedi, which remained stable last week after previous declines.

The cedi ended the week at GH¢14.90 to the dollar, with a year-to-date depreciation of about 18.01%.

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