The cedi continued its strong run last week, appreciating against the US dollar and the other major foreign currencies on the retail market.
This narrowed its year-to-date loss to 1.43% to the American greenback¸ an improvement over the 1.85% recorded during the same period last year.
The stability was underpinned by subdued market activity and increased foreign exchange interventions by the Bank of Ghana.
The month finished with an average exchange rate of GH¢15.81 to one US dollar.
The local currency appreciated by 1.11%, 0.78%, and 0.6% week-on-week against the US dollar, pound and euro respectively.
It began the week selling at GH¢15.85 to one dollar.
Last week, the Bank of Ghana’s stepped up its foreign exchange support, offering a total of US$320 million to corporate demand. This helped curb speculative pressures.