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
Ghana’s Cedi ranked as the world’s worst performing currency in 2022. The Cedi has been reported by Bloomberg to be the world’s worst-performing currency this year as investors continued to squeeze foreign capital to the west African country before a deal with the International Monetary Fund. The currency of the world’s second-biggest cocoa producer depreciated … Read more
1 Dollar breaks ¢12 mark; forex bureaus sell a dollar for ¢12.10. The Ghana cedi has breached the ¢12 to the dollar mark within just a week, selling at ¢12.10 at most forex bureaus or the retail market. A visit by Joy Business to some forex bureaus indicates that most of the operators are selling … Read more