On The Ghana Stock Exchange

Upward movement in the price of SCB shares was the main driving force for appreciations in returns on the composite and financial stock index pegging at 3.88 percent and 6.49 percent respectively at close of trade yesterday. SCB was the sole gainer for the day, adding up 42 Pesewas to close at GHS 19.94 per share. However, GCB and SIC lost 4 pesewas and 1 pesewa on their prices respectively as the financial stocks record more downward price movements on the bourse for the past 7 trading days.

On The Ghana Cedi 

The Cedi gained to all the major trading partners on the interbank market yesterday. The tides on the currency market is beginning to turn in favour of the local currency as the BoG increases dollar sales and expectations of foreign funds inflows has caused market participants to go take long positions on the Cedi. The triangular effect of the gains against the dollar resulted in appreciations to the Pound, Euro and CFA. A dollar now goes for a midrate of GHS 3.9302 on the interbank market as the outlook for this week, indicates the value of the Cedi appreciating even much further.

Source: Todaygh


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