The Ghanaian cedi experienced a significant depreciation of 2.94% against the US dollar last week, marking its steepest decline since the start of the year.
This dip has pushed its year-to-date loss to 3.87% as of January 2025.
The primary factors contributing to this downturn are continued demand pressures from key sectors, particularly manufacturing and energy, both of which have been heavily reliant on foreign exchange to fuel operations.