Oct. 10 (Bloomberg) -- Ghana’s cedi weakened for a second day as overseas-based investors bought dollars to repatriate earnings from bonds.
The currency of the world’s second-biggest cocoa producer depreciated as much as 0.4 percent to 1.6233 per dollar before trading 0.3 percent down at 1.6220 per dollar as of 1:17 p.m. in Accra, the capital, according to data compiled by Bloomberg.
“There was dollar buying by offshore investors today,” Jacob Brobbey, a currency trader at the local unit of Barclays Bank Plc, said in a telephone interview. “Some offshore investors have received coupon payments over the past week.”
--Editors: Ana Monteiro, Gavin Serkin
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