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Bank of Ghana last week released onto the market, 218.5 million dollars to prevent the cedi from further sliding into a free fall. The funds came upon requests from commercial banks. It will also help in meeting the country�s oil imports needs and syndication loan repayment by one of the Cocoa Licensed Buying Companies. The intervention by the Bank of Ghana, comes after the local currency recorded a depreciation of about a 0.5 percent, since the beginning of the year. This was as a result of the surging demand for the dollar by both local and foreign investors, and businesses to cover import bills. It however appears the intervention by the central bank hasn�t achieved the desired impact, as the cedi continues to fall in value. As at Monday, 16 January, 2011, one needed 1 cedi 71 pesewas to buy a dollar on the Forex market. This is the lowest value drop the currency has seen in a while. Officials of the Central Bank have dismissed assertions that there is deliberate policy to prevent the cedi from over-appreciating on the back of oil production.