As a result the local currency trimmed 0.45 per cent to settle at GH¢3.85 per dollar.
Against the Pound and the Swiss Franc, the Cedi weakened, giving up 1.03% and 0.15% as forex dealers offered midrates of GH¢5.51 to the Pound and GH¢3.90 to the Swiss currency respectively
The Cedi which was unchanged against the Rand the previous week shed some grounds during the week under review By the close of the day, the Cedi had thumbed by 0.48% against the Rand to close trading at GH¢0.25.
At the end of the auction held last Friday, March 04, 2016, the short dated instruments closed in contrasting directions while the 1 -Year Note and the 2- Year Note remained stable at previous rates. The yield on the 5 Year Note issued during the week also ticked higher
A total of GH¢2.05 billion in bids submitted by dealers were accepted by the Bank of Ghana.
The 182-Day bill added 11 basis points to 24.65% from 24.54% but the 91- Day bill was down by 10 basis points to 22.51% from 22.61%.
The 1-Year Note and the 2-Year Notes were unchanged at 23.00% and 23.30% respectively while the 5 Year Note edged higher by 75 basis points to 24.75%
The Bank of Ghana expects to raise GH¢1.06 billion at the auction to be held on Friday, March 11, 2016
Source UMB
