Currencies
Ghana Cedi May Weaken to 12 Per Dollar by Year-End, Barclays Says
A customer hands a Ghana cedi banknote to a vendor at the Makola market in Accra.
Photographer: Ernest Ankomah/BloombergGhana’s cedi may depreciate to 12 per dollar by the end of the year as gold export revenue stabilizes, government increases spending and the central bank cuts interest rates, Barclays Plc said.
That’d mean a loss of 13.3% to the US currency by December from the cedi’s Thursday close of 10.4 per dollar, according to data compiled by Bloomberg.