Tag Archives: cedi

Ghana Cedi Hits ¢10 To A Dollar

The Ghana cedi has hit the ¢10 mark as it traded at ¢10.01 in the retail market yesterday August 18th, 2022. At the same time, the cedi went for ¢10 to a euro.   The cedi’s situation has become a major worry to businesses and household consumers, as its continuous …

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BoG Increases Policy Rate To 22%; Cost Of Borrowing To Shoot Up Significantly

The Bank of Ghana has increased the policy rate by 300 basis points to 22%, after an Emergency Monetary Policy Committee meeting today, August 17th, 2022. The move is part of measures to address the risks to the inflation outlook. However, cost of borrowing is expected to go up significantly, …

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BoG Introduces Measures To Arrest Cedi

The Bank of Ghana has given strong indication that the recently approved $750 million Afriexim loan facility by Parliament once disbursed, among other measures, will boost the foreign exchange position of the country and help restore confidence in the cedi. The additional measures include the cocoa syndication loan which is …

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Cedi Now Worst African Currency; Depreciates 7.6% To Dollar

The Ghana cedi is now the worst-performing currency on the African continent just two months into 2022. This is because it has depreciated by about 7.6% to the dollar from January 1, 2022 to February, 25, 2022. The local currency has therefore overtaken the Zambian kwacha, which was the worst-performing …

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Efforts Being Made To Arrest Recent Cedi Depreciation – Nana Addo Assures

President Nana Addo Dankwa Akufo-Addo says efforts are being made to halt the ongoing depreciation of the Cedi against the US Dollar.   According to the President, the development is of concern to him, just as it is for the business community and the ordinary Ghanaian.   For some time …

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Cedi Performance: NPP’s Worst Is NDC’s Best – Former NPP MP

Former Member of Parliament for OkaiKwei North, Fuseini Issah has said the New Patriotic Party (NPP) has done well in managing the performance of the local currency, the cedi, against the major trading currencies especially the dollar.   He said on the New Day show on TV3 Friday February 18 …

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Bloomberg: Cedi Under Intense Pressure; Ranked Among African Currencies With ‘Worst Spot Returns’

With barely five weeks to end the year, the Ghana cedi has come under intense pressure and is being classified among African currencies with the ‘Worst Spot Returns’. It’s now ranked 14th among 20 top African currencies tracked by Bloomberg.  It was actually the best performing currency in Africa in …

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Cedi Records Highest Depreciation Against Dollar In 36 Weeks

The local currency is back into free-fall mode against its major counterpart trading currency, the US dollar, as it records its highest depreciation since beginning of the year, B&FT analysis has shown. Data from the Bank of Ghana (BoG) interbank FX rates show as of Tuesday, 7 September 2021, the …

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Check Out Cedi’s Position On African Currencies ‘League Table’

Out of 15 top currencies on the African continent tracked by Joy Business, the Ghana cedi is presently placed 7th in terms of league of best performing currencies, despite the recent pressures on the local currency. It is performing better than the South African rand (-8.07%), the Nigerian naira (-7.37%) …

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