Several local banks foresee the Ghanaian cedi to stabilize, with a modest depreciation expected by year’s end to around 15.97 per USD, a mere 2% drop from the current rate of 15.63. Supporting this outlook are Ghana’s bolstered international reserves, now at USD 6.9 bln from USD 5.3 bln last year, and the central bank’s decision to maintain its 29% benchmark interest rate since July 27. The upcoming December elections may also influence local USD demand.