The Ghana cedi continued its strong showing against the US dollar in the retail market on February 17, 2025, following a week of mixed performance against major foreign currencies.
It traded at an average of GH¢15.75 per dollar, improving from nearly GH¢15.95 on Friday, February 14, 2025. The currency’s year-to-date depreciation stood at 0.63%.
Analysts predict the cedi will remain stable this week, likely fluctuating between GH¢15.5000 and GH¢15.7000, as subdued corporate demand helps curb volatility. However, the long-term outlook remains uncertain due to reduced foreign exchange inflows, repatriation, and increasing demand pressures that could challenge its stability.
Last week, the cedi remained stable in the retail market despite a slight depreciation in the interbank market. While retail market stability was driven by low demand pressures, interbank volatility resulted from limited foreign exchange supply.
By the end of last week, the cedi had strengthened slightly, closing at GH¢15.95 per dollar, marking a weekly gain of 0.48%. It remained steady against the British pound at GH¢19.50 but weakened marginally by 0.31% against the euro, settling at GH¢16.25.
