Nigeria Content Online

Ghana’s cedi
continued to weaken against the greenback after weeks of sustained
demand for imports in the run up to Christmas, traders said on Monday.

“It (the dollar)
started at 1.4765 but it has gone up to 1.4790 this morning. There’s
not much money on the market and the demand has just overwhelmed the
supply,” said Access Bank’s Kwabenah Yeboah.

One trader said he
expected dollar-cedi to stay shy of 1.48 for the rest of the day. “It’s
a trend we have on our markets where you see a lot of pressure on our
currency in December. Nothing is being seen on the supply side this
morning,” he said.

Dollar supply remains weak as mining companies and NGOs closed their books to balance accounts for the coming year.