Tag Archives: cedi

President Nana Addo Dankwa Akufo-Addo has stated that the appreciation of the cedi against all major trading currencies is as a result of deliberate policy interventions introduced by the government over the last few months. According to President Akufo-Addo, “the strengthening of the cedi has not happened by chance, but …

The Ghanaian currency has continued to strengthen the trend against the US dollar and all the other major foreign currencies. The cedi in the last two weeks has been on a path of resurgence against all the major trading currencies. The local currency is currently trading at ¢8 to a …

Ghana’s currency, cedi took the title of the world’s best performer against the dollar this week. The cedi which in previous weeks performed abysmally has suddenly gained weight becoming the best performing currency in recent days.   There is strong indication that the debt distressed country is moving closer to …

The Bank of Ghana (BoG) has announced an upgrade on the the One Ghana (GH¢1) coin with enhanced security features. A statement from the BoG said it will issue the upgraded GH¢1 coin into circulation from Monday,12th December 2022. The coin, according to the Central Bank, is similar to the …

Ghanaian investigative journalist and the Editor-in-Chief of The Fourth Estate, Manasseh Azure, says the value of the local currency is weightier than President Akufo-Addo’s address to Ghanaians on Sunday. In a reactionary tweet after the address on Sunday evening, he said, “CONCLUSION: The value of the Cedi is far higher …

President Akufo-Addo has urged Ghanaians not to talk down on the country’s currency – the Ghana cedi. Addressing the nation on the economy on Sunday (30 October), President Akufo-Addo said, “Money doesn’t like noise. If you talk down you currency, it will go down, if you allow others to talk …

Information Minister, Kojo Oppong Nkrumah has announced that Government has outlined some immediate plans to help arrest the free fall of the Ghana cedi. According to him, Governor of Bank of Ghana (BoG), Dr. Ernest Addison has scheduled a crunch meeting tomorrow, Tuesday, October 25, 2022, with all CEOs of …

Finance Minister Ken Ofori-Atta has assured Ghanaians that the economy is in good shape despite the continuous depreciation of the Cedi. Speaking to a journalist of Accra-based Asaase Radio from Washington where he is leading a team engaging the International Monetary Fund, IMF; the Minister described the depreciation rate as …

The depreciation pressures on the Ghana cedi continued relentlessly today as the local currency sold at ¢11.62 pesewas in the retail market. This is almost 6% depreciation since Friday, October 7th.   Checks by Joy Business at some forex bureaus indicate that the supply of dollars in circulation is insufficient. …

The Ghana cedi lost 40.05% in value to the US dollar in nine months of 2022, ranking it as the second worst performing currency in the world in the 147th position, according to Bloomberg. This decline in the local currency against the American currency is the worst in over three …