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Cedis records 9.33% to a dollar a year-to-date depreciation

The local currency ended the month of September recording a year-to-date depreciation of 9.33% to the US dollar (USD).

The Ghana Cedi in the last ten trading days has been relatively stable to the USD with an average quote of GHS 5.49. In the same period the cedi appreciated to the Euro and its average quote fell below GHS 6.00.

The Ghana Cedi is expected to remain relatively stable to the USD this week.

On the Ghana Stock Exchange, the broader market index (Composite Index) closed at 2,204.79 as it came down by 4.78 points (-0.22%). It ended the day’s session with a week-to-date loss of 0.88%, a four week loss of 4.3% and records an overall year-to-date loss of 14.28%.

The Financial Stock Index (GSE-FSI) on the other hand, went up by 13.28 points (+0.71%) to close the end of month index level at 1,894.24 points. This saw the index record a week-to-date loss of 0.69%, a 4 week loss of 5.28% and a year-to-date loss of 12.09%.

This performance regarding the FSI was as a result of gains recorded in two giant financial equities on the stock market (Enterprise Group Limited and ECOBANK).

The last day of September saw three gainers and losers each moving on their opening share prices. With a total of 169.72 million shares outstanding and a market capitalization of GHS 322.47 million, Enterprise Group Limited (EGL) added GHS 0.13 to its previous closing share value to seal today at GHS 1.90.

EGL has lost 11.63%, 9.95% and 38.11% in 3 months, 6 months and 1 year respectively. It ended the month with a YTD decline of 15.18%.

Below is a table showing today’s gainers and losers 

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