The Ghana cedi has been projected to end 2023 at GH¢11.40 to the US dollar, Fitch Solutions has said.

The firm had earlier predicted that the cedi might end the year at GH¢12.40 but since the last prediction, the government has been able to secure the $3 billion bailout from the International Monetary Fund.

Also, Fitch projected that the cedi will be selling at GH¢10.90 to one dollar in 2024, which will be fueled by expected inflows from the International Monetary Fund program and improve investor confidence.

“While short-term exchange rate volatility will persist, we believe that the cedi will stabilize once a formal creditors’ committee is formed and the IMF executive board approves Ghana’s program”, it earlier stated.

The cedi is currently been sold at GH¢11.65 and is being bought at GH¢11.40. It has seen some stability in the past few weeks.

SSD/NOQ

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