Ghana cedi eases slightly, volumes thin

ACCRA, Jan 4 (Reuters)- The Ghana cedi inched down slightly against the dollar in light trade on Wednesday, adding to Tuesday's losses on corporate demand for greenbacks, traders said.

Jacob Brobbey of Barclays Bank quoted the interbank cedi-dollar exchange rate at 1.6575/00 at 1245 GMT, slightly down from an open of 1.6560/85.

"Today the cedi has been fairly stable around this level, particularly because there has not been much (...) volume of trade," Brobbey said.

"The 1.6600 major resistance is likely to hold."

But he noted the cedi was under pressure yesterday, when banks reopened after the New Year.

"The cedi extended losses versus the U.S. dollar in the first trading day of 2012 to close at 1.6560/85 on firm local corporate demand, down 0.24 percent from the open of 1.6520/45," Brobbey said.

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