With just two months to the festive season, the Ghana cedi still remains under intensive pressure on the interbank market.?

Ghana Cedis

The first and second quarters of 2012 saw the local currency dip by 9.25% and a further 9.72% respectively to the US dollar.?

This development had serious implications for businesses and investments as dollar driven activities were hard hit.?

A Research Analyst with Gold Coast Securities Limited, Yaw Adu Koranteng told?Citi Business News,an intervention from the Central bank will ease the pressure on the Cedi ahead of the festive season.

He said: ?As it stands now, we can say the Ghana cedi has stabilized if we should take a look at the performance of the cedi from the beginning of the year. So far, the pressure of the cedi hasn?t been that immense.?

Mr. Koranteng was however optimistic of a boost in the Cedi performance in the first half of 2013.

?After every election, the government that comes to power tries to stabilize the currency so I don?t really see the cedi going down come 2013 first quarter; we expect it to stabilize,? he opined.


By: Lorrencia Adam/Citifmonline.com/Ghana


LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.