The Bank of Ghana (BoG) interbank exchange rate data showed all three major currencies appreciated against the cedi between July 27 and July 31.

The US dollar buying rate rose to GHc11.6801 on July 31 from GHc11.6292 on July 27, while the selling rate increased to GHc 11.6917 from GHc 11.6408.

Based on the buying rate, the cedi depreciated by about 0.44 per cent against the dollar over the period.

The euro recorded the strongest weekly gain.

Its buying rate climbed to GHc13.45 on July 31 from GHc13.24 at the start of the week, while the selling rate rose to GHc 13.48 from GHS 13.25.

The cedi consequently lost about 1.7 per cent against the single European currency.

The British pound also strengthened against the cedi.

The buying rate increased to GHc 15.73 on July 31 from GHc 15.5180 on July 27, while the selling rate rose to GHc 15.74 from GHc 15.53.

The cedi depreciated by about 1.38 per cent against the pound during the week.

The dollar recorded steady gains throughout the period, while the euro and the pound registered sharper increases toward the end of the week.

On July 31, the euro buying rate rose to GHc 13.45 from GHc 13.26 the previous day, while the pound buying rate increased to GHc 15.73 from GHc 15.48.

By the close of trading on July 31, the pound remained the highest-valued of the three currencies, with a selling rate of GHc 15.74, followed by the euro at GHc 13.48 and the US dollar at GHc 11.6917.

Overall, the cedi recorded its steepest weekly depreciation against the euro, followed by the pound, while its decline against the US dollar was comparatively modest.