Currency News For December 23rd 2019

The Ghanaian Cedi this week gained momentum to post gains against all three major trading partner currencies on both the Bank of Ghana (BoG) inter-bank trading platform and on the Open Forex Market (oanda.com) after two consecutive weeks of losses against the US Dollar, the British Pound Sterling, and the Euro. Against the Dollar, the Cedi posted its first gain in eight weeks on the BoG inter-bank trading platform and ten weeks on the Open Forex Market.

The Cedi had come under intense pressure in recent times buoyed by increased demand by importers and businesses ahead of the yuletide. The Cedi’s strengthening at the start of the week puts it at a 1-week high against the Dollar, the Pound and the Euro.

Below is how the Cedi traded at the start of the week against the previous week.

Bank of Ghana Inter-Bank rates
Currencies	Current Week	Previous	Percentage Change
USD	5.5424	5.5433	0.02%
GBP	7.1641	7.3947	3.22%
EUR	6.1441	6.1767	0.53%

 

Open Forex Market rates (oanda.com)
Currencies	Current Week	Previous	Percentage Change
USD	5.73592	5.77044	0.60%
GBP	7.44113	7.70700	3.57%
EUR	6.35831	6.42821	1.10%