The Ghana cedi is expected to rebound against the U.S dollar over the next two weeks. Analysts expect the currency to stabilise and potentially strengthen toward roughly GH¢ 11.39–11.45 per USD, reflecting an appreciation from current levels.
The rebound is largely attributed to an IMF disbursement of about US$385 million, which should improve foreign exchange liquidity.
The short term strengthening of the cedi include Increased FX liquidity from IMF funds to the Bank of Ghana and commercial banks. Also the seasonal demand from importers reduce pressure on forex supply.
The cedi has shown strong year-to-date performance, suggesting underlying resilience. Forex market sentiment can shift quickly due to changes in external flows or demand spikes.
Technical forecasts from market models sometimes show differing short-term directions, for instance, some data suggest a bearish USD/GHS sentiment, potentially signalling volatility rather than a straight path down.
Based on current commentary from forex analysts and market research, it’s plausible that the Ghana cedi could strengthen from around GH¢ 12.40 toward the GH¢ 11.40–11.45 range over the next two weeks, supported by incoming IMF funds and seasonal FX dynamics. However, forex markets remain volatile and short-term outcomes can vary.
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