On the interbank market, the local currency ended the week at an indicative rate of 11.01/$1.
On the retail market, it fell 1.94% against the pound and 1.83% against the euro.
This was despite the Bank of Ghana's increased market support for foreign exchange (FX).
Despite increased dollar market support from the Bank of Ghana, the demand for the American greenback remained high.
Last week, the Central Bank also provided about $10.75 million in spot market lending.
Again, the regulator received and allocated $30 million at a 30-day forward rate of 12.1203/$1 for Bulk Oil importers (BDCs), compared to the previous auction rate of 11.9095/$1. This indicated signs of demand pressures.
In the retail market, the cedi is currently trading at 13.05 to the dollar.
Meanwhile, analysts believe that the successful settlements of the new bonds, as well as Ghana's upcoming debt cancellation talks with China, will boost investor confidence and the cedi's outlook.
