CalBank Banking Sector Overview & Competitor Benchmarking

4.0 Mar- 20 6.0 8.0 10.0 - Jul-20 12.0 14.0 16.0 Nov- 20 18.0 Macro Headwinds | Local currency performance • • The Cedi has experienced some pressure since October 2022, reflecting concerns about the DDEP, further sovereign rating downgrades, and seasonal demand pressures. However, the progress made on the DDEP and positive sentiments, thereafter improved sentiments and helped reverse some of the losses. By March, 2023, the Ghana cedi depreciated by 22.1%, 23.5%, and 23.1% against the US Dollar, the Pound, and Euro, respectively Mar- 21 Jul-21 Nov- 21 USD GBP EUR Mar- 22 2721 Jul-22 Nov- 22 の Mar- 23 CalBank

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