{"id":46758,"date":"2025-04-08T14:39:15","date_gmt":"2025-04-08T14:39:15","guid":{"rendered":"https:\/\/sotnews.agency\/?p=46758"},"modified":"2025-04-08T14:39:15","modified_gmt":"2025-04-08T14:39:15","slug":"cedi-starts-week-on-a-weak-note-one-dollar-going-for-gh%c2%a216-00","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=46758","title":{"rendered":"Cedi starts week on a weak note; one dollar going for GH\u00a216.00"},"content":{"rendered":"
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The Ghana cedi started this week on a weaker note after strengthening against the US dollar last week amid a weakening US dollar Index.<\/p>\n

It depreciated slightly against the American greenback in the retail market, going for GH\u00a216.00.<\/p>\n

This culminated in a year-to-date depreciation of 2.36%.<\/p>\n

It is, however, unclear why the cedi has come under some pressure after the ongoing tariff impositions by President Trump\u2019s administration led to a shift in investor sentiment, triggering 197.81 197.81-point week-on-week decline in the U.S. Dollar Index (DXY) to close at 302.02 points (Year-to-Date), reflecting waning confidence in U.S. assets.<\/p>\n

Nonetheless, analysts expect the cedi to gain this week as the DXY continues to dip due to shifts in investors\u2019 appetite away from US dollar-denominated assets.<\/p>\n

Additionally, the Bank of Ghana published the auction calendar for the Bulk Oil Distribution Companies and intends to sell US$120 million in quarter 2 of 2025.<\/p>\n

Databank Research believes these developments will positively impact market sentiments around the cedi\u2019s performance in the near term.<\/p>\n

Last week, the cedi gained 0.16% week-on-week versus the US dollar to close at a mid-rate of GH\u00a215.78, while shedding 0.74% week-on-week versus the pound and 0.59% week-on-week to the euro. This narrowed the year-to-date depreciation of the cedi to the dollar at 1.57%<\/p>\n

Indeed, the demand for European and British assets surged, strengthening the euro and pound.<\/p>\n<\/div>\n

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The Ghana cedi started this week on a weaker note after strengthening against the US dollar last week amid a weakening US dollar Index. It depreciated slightly against the American… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-46758","post","type-post","status-publish","format-standard","hentry","category-blog"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/46758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46758"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/46758\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}