Cedi Looking Stable

December 2006 | Currency Forecast

The cedi remains fairly range bound against the US dollar (which account for some 80% of FX transactions) but has fared less well against the euro and the British pound. Versus the greenback the unit will close the year on a negligibly weaker note - depreciating around 1% in 2006 - and we envisage continued stability with a mild upside bias at the start of 2007. The cedi has lost nearly 13% of its value against the euro over 2006 (eliminating the gains made over 2005), but could recoup parts of these losses over the short term.

If you would like to subscribe to West Africa Monitor and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to West Africa Monitor please click on the trial link below.