Analysts say the issuance of a three year bond by government last week has helped stabilize the cedi marginally on the interbank market.

For some days now the, the rather depreciating Ghana cedi has begun seeing some level of appreciation

The cedi which was trading at around, GHC4.80 around early March is now trading at around GHC4.60 pesewas.

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Market analysts also say the marginal stability can be attributed to the decision by some offshore investors to bring in some dollars to buy some cedis in preparation for the three-year bond auction.

The issuance of a three year bond closed on March 9. Government was able to attract a little over GHC1 billion and would pay a yield of 21.5 percent.

Deputy Finance Minister-designate, Kweku Kwarteng attributes the cedis' stability to investor response to policies outlined in the 2017 budget

"The policies in the budget have shown investors are convinced about government programs aimed at stabilizing the cedi"/

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Some have argued that more measures are needed to sustain this trend so the local currency can firmly stabilize against the dollar and major international currencies.

The trend if sustained could reduce cost of living in the coming days.