- Ghana’s central bank injects $410m into the market in early November to stabilise the cedi
- Cedi rebounds across major currencies but faces year-end risks and election-related pressures
Accra, Ghana – The Bank of Ghana (BoG) has ramped up foreign exchange (FX) liquidity injections to counteract heightened dollar demand pressures as the year draws to a close. Data from the central bank’s FX operations reveals $410 million was injected into the market in the first 13 days of November 2024. This figure sharply contrasts with the $500 million disbursed between August and October, marking the highest quarterly spot market intervention in years, coinciding with the approach of Ghana’s 2024 general elections.
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