• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Cedi appreciates marginally

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
155
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Cedi appreciates marginally

The cedi appreciated marginally against the dollar this week, trading at GHS 9.99 from a record low GHS 10.08 at close of last week.

Ghana’s local borrowing costs continue to rise, with yields on the six-month treasury bills shooting past 30% this week.

Proceeds from a $1.3 billion syndicated loan for Ghana’s Cocoa Board (COCOBOD) agreed in July is expected to land imminently, and should ease some of the pressure on the Cedi.

Murega Mungai, Trading Desk Manager, AZA Finance, commenting on the Cedi’s performance lately, said, “We expect the currency to drift back to the 10 level in the near term, although the pace of depreciation is likely to be slower.”

The cedi recovered against the dollar last week, trading at 9.86 from 9.95 at previous week’s close, having briefly touched a record low 10.03, as funds from Afreximbank’s recent US$750m loan arrived at the Bank of Ghana.

The proceeds of the loan is billed to be used for infrastructure projects and boosting Ghana’s foreign exchange (FX) reserves, which have fallen as the central bank has attempted to slow the cedi’s slide against the dollar.

RelatedPosts

Chamber of Mines Warns Mining Act Reforms Could Weaken Ghana’s Investment Appeal

Gold Price Hits Record High as Investors Seek Safety

Nigeria: Forex Traders Say Chinese Traders Now Collecting Naira Instead of Dollars

Ghana has been shut out of global capital markets as the US Federal Reserve has lifted interest rates to fight inflation, pushing Ghana’s borrowing costs higher and putting its debt sustainability in the spotlight.

Source: dailyguide
Tags: AfreximbankBank of Ghana (BoG)Cedi appreciates marginallyCocobod
No Result
View All Result

Highlights

Chinese Firm Faces $420 Million Zambia Mine Spill Damages Claims

60% of Africans Don’t Believe Democracy is Working in Their Interests – How Parliaments Can Fix The Problem

Banking Sector the Most Robust and Advanced Sector in Fight Against Money Laundering – Report

West Africa: Ghana Flagged as Target for Illicit Financial Flows in Latest National Risk Assessment

Central Bank Raises GH¢2.34bn in Short-Term Bill Sale at Nearly 25% Yield

Summer 2025 Transfer Window: Record-Breaking Moves Reshape European Football

Trending

Business

Chamber of Mines Warns Mining Act Reforms Could Weaken Ghana’s Investment Appeal

September 2, 2025

Chamber of Mines Warns Mining Act Reforms Could Weaken Ghana’s Investment Appeal Ghana’s mining sector, long the...

Gold Price Hits Record High as Investors Seek Safety

September 2, 2025

Nigeria: Forex Traders Say Chinese Traders Now Collecting Naira Instead of Dollars

September 2, 2025

Chinese Firm Faces $420 Million Zambia Mine Spill Damages Claims

September 2, 2025

60% of Africans Don’t Believe Democracy is Working in Their Interests – How Parliaments Can Fix The Problem

September 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.