• 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

Outlook for the Ghana cedi has improved – Central Bank

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
69
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Outlook for the Ghana cedi has improved – Central Bank

The Governor of the Bank of Ghana (BoG), Dr Ernest Addison has said the outlook for the Ghana cedi has improved.

Speaking at the 108th Monetary Policy Committee (MPC) press briefing in Accra on Thursday (6 October), Addison said this has been “aided by the recent disbursement of the loan from Afreximbank of US$750 million, the signing of the syndicated Cocoa Loan of US$1.13 million, and the agreement with gold and oil companies to purchase the repatriated foreign exchange earnings of about US$83.9 million so far, will help stabilise the exchange rate.”

In the year to September 2022, the Ghana cedi depreciated by 37.5%, 24.1%, and 27.5% against the US dollar, the pound, and Euro, respectively.

In comparison with the same period of last year, the Ghana cedi fared better, depreciating by 1.8% and 0.5% against the US dollar and the pound, respectively, and appreciating by 4.0% against Euro.

According to the Bank of Ghana (BoG), the depreciation of the currency was driven by higher crude oil product import bill on the back of rising prices, non-roll over of maturing bonds by non-resident investors, portfolio reversals and sudden exit of non-resident investors in the bond market, as well as loss of market access to Eurobond resources.

The central bank said the effect of these factors has been exacerbated by the strength of the US dollar, resulting in the depreciation of the local currency from the beginning of the year-to-date.

RelatedPosts

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

Kwesi Appiah: The Ghanaian Legend Rewriting Sudan’s Football Story Amid War

Cadillac Signs Sergio Perez and Valtteri Bottas for 2026 F1 Debut

Inflation

According to the BoG, “Inflation remains elevated and the balance of risks is on the upside. Although the forecasts are for monthly inflation to continue to slow down, the risks are on the upside, emanating largely from pass-through effects of the currency depreciation, the recent upward adjustment in utility tariffs, and rising inflation expectations.”

However, the central bank said it remains committed to re-anchoring inflation expectations and returning to a disinflation path.

Tags: Bank of Ghana (BoG)MPCOutlook for the Ghana cedi has improved - Central Bank
No Result
View All Result

Highlights

FEC 2025: Energy Minister Warns African Gov’ts Cannot Sustain Energy Financing Burden; Urges Stronger Private Sector Role in Continent’s Energy Financing

ACEP Pushes for Bold Financing Models to Tackle Africa’s Energy Poverty at FEC 2025

The Rise of Women-Tailored Insurance Policies in Africa

Energy Ministry, NPA Engage Industry on Proposed Petroleum Sector Legislation

President Mahama Targets Billion-dollar Ghana–Singapore Trade in 24-Hour Economy Pitch to Investors

Unpaid Taxes “Very Frightening”, Says Hon. Nana Osei-Adjei

Trending

Energy

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

August 26, 2025

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to...

Kwesi Appiah: The Ghanaian Legend Rewriting Sudan’s Football Story Amid War

August 26, 2025

Cadillac Signs Sergio Perez and Valtteri Bottas for 2026 F1 Debut

August 26, 2025

FEC 2025: Energy Minister Warns African Gov’ts Cannot Sustain Energy Financing Burden; Urges Stronger Private Sector Role in Continent’s Energy Financing

August 26, 2025

ACEP Pushes for Bold Financing Models to Tackle Africa’s Energy Poverty at FEC 2025

August 26, 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.