Bloomberg News

Ghana Cedi Weakens for 1st Day in 3 on Dollar Demand for Imports

July 06, 2011

July 6 (Bloomberg) -- Ghana’s cedi weakened for the first time in three days against the dollar as traders bought the U.S. currency to import confectionery, food and clothing.

The currency of the world’s second-biggest cocoa producer depreciated 0.2 percent to 1.5175 per dollar by 12:07 p.m. in Accra, the capital, according to Bloomberg data.

“The cedi might close weaker, considering the demand waiting for execution on the market,” Biggles Amponsah, a currency trader at the local unit of Access Bank Plc, said in a telephone interview today. Demand is coming “from those who buy and sell consumer goods.”

--Editors: Ana Monteiro, John Kohut

To contact reporter on this story: Moses Dzawu in Accra at mdzawu@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.


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