Cedi To Stabilise By End Of March 2018

Currency analysts have predicted a relative stability of the cedi against the dollar, Euro and British Pound by the end of March this year 2018.

This comes despite the depreciation of the cedi in relation to the three major trading currencies.

The perennial depreciation of the cedi has among others, impacted the planning of businesses especially by importers.

But the currency analysts say they are optimistic that recent developments in the economy will turnaround developments on the foreign exchange market.

For the CEO of the Policy Initiative for Economic Development, Daniel Amarteye Anim, government’s plans to issue a Eurobond within the next few months, should increase the supply of dollars to meet the potential rise in demand.

“It is the high appetite for government borrowing from the international market to support infrastructural development. So whilst the government raises more bonds, we will have more inflows into the country. As we have inflows, our reserves increases and what it means is that the supply of foreign currency in the local economy will increase and that may also affect the performance of the cedi,” he explained.