In the first month of 2023, the Ghana cedi lost significant value against the dollar, declining by 19.1%. The cedi traded in the interbank market in January 2023 at a rate of ¢10.60 to one US dollar, up from ¢8.57 on December 31, 2022, according to the Bank of Ghana’s January 2023 Summary of Economic … Read more
Cedi suffers more depreciation: $1 now sells for ¢14 The woes of the Ghana cedi continued as it depreciated further to about ¢14 to the US dollar less than a day, after reaching ¢13 on October 19. This is equivalent to about 12% depreciation in only four days of this week. The local currency is … Read more
1 Dollar breaks ¢11 mark; forex bureaus sell a dollar for ¢11.30. The Ghana cedi’s problems worsened, with the retail exchange rate standing at ¢11.30 to the dollar. It recently crossed the 11-to-1 threshold, which occurred on Saturday, October 8, 2022. According to Joy Business’s inspections of a few forex offices in Accra, the nation’s … Read more