GHS: Oil-Fuelled Appreciation On The Cards

The upside and downside pressures on the Ghanaian cedi have been balanced since December 2009, and we expect this to continue over the short term. Depreciatory forces stemming from the current account deficit should be counterveiled by appreciatory pressure originating from foreign investment, giving rise to sustained sideways trading for the cedi, around the GHS1.4200/US$ area.

To read the full article, please choose one of the following options: