local currency market commentary

There was an uptick in activity on the secondary bond market in Tuesday’s trading session. The market saw an increase in the number of bids to match offers. The market saw trades in Oct 22, Jan 23, Jan 25 and March 25 around 17.750%, 19.650%, 21.200% and 21.300% levels respectively. Activity on the buy side saw an improvement in yesterday’s session. Conversations with them suggest a sluggish inflow of month end contributions, but they are optimistic nonetheless. We expect a continuous improvement in activity on the market towards the end of the week. The USD/GHS closed the session at 6.6300/6.6600.