Cedi To Receive Privatisation Boost, Then Resume Weakening

August 2008 | Currency Forecast

BMI View: The beleaguered Ghanaian cedi should receive some support over August-September from privatisation inflows and the sale of the annual cocoa crop, bringing the currency back to the GHS1.10/US$ region. Thereafter, however, the weakening trend is expected to resume as oil imports will continue to weigh on the current account, until forward selling of domestic oil production begins in the latter part of 2009.

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