Business News of Monday, 10 February 2020Source: www.ghanaweb.comCedi to remain stable against the dollar, Euro in first quarter – Analyst predictsGhanaian currency, CedisAfter the local currency was able to appreciate against the major currencies; dollar, euro and pound sterling last month, Head of Trading at Absa Ghana, Jacob Brobbey, has predicted that the cedi may perform better or is likely to remain stable in the first quarter. “For the first quarter of this year, the currency is likely to remain very stable if not perform much better,” he stated in an interview with Citi business. Bank of Ghana (BoG) in its latest Summary of Economic and Financial Data noted that cedi early this year appreciated 0.3 percent against the dollar, and also made a 1.9 percent gain on the British pound. The local currency also made a 2.3 percent gain on the Euro. This cedi appreciation, the central bank, noted was as a result of the setting of the Forex Development (FX) committee by government through the Finance Ministry to help find stringent ways to stabilize the cedi.

Source: GhanaWeb February 10, 2020 14:03 UTC