The peaceful conduct of Ghana's 2024 general elections is projected to benefit the cedi, with many observers expressing optimism about its stability in the coming days.Former President John Mahama has been declared the winner of the 2024 general elections, securing 6,328,397 votes, representing 56.55%.Dr. Mahamudu Bawumia, the Vice President and NPP presidential candidate, garnered 4,657,304 votes, amounting to 41.

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61%, in the 2024 general elections.Ahead of the December 7 elections, the Bank of Ghana assured the public of sufficient dollar buffers to maintain cedi stability despite potential uncertainties.Market analysts suggest that the peaceful nature of the December 7 elections has mitigated concerns about cedi depreciation, fostering expectations of gains in the near term.

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Ghana’s peaceful election process is viewed as a testament to its matured democracy, bolstering investor confidence and signaling stability to donor partners.Dr. Bawumia’s decision to concede defeat has been commended by offshore investors, who see it as a step toward maintaining economic and political stability.As of December 10, 2024, forex rates show the dollar trading at GH₵16.

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20 in some bureaus, while commercial banks are selling it at GH₵14.80.The cedi is anticipated to gain strength in the aftermath of the peaceful 2024 elections, with observers highlighting the positive market sentiment.Following the elections, forex bureaus recorded the dollar at GH₵16.20, while the British Pound and Euro traded at GH₵20.20 and GH₵17.00, respectively.

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