Tag Archives: cedi

The worst may not be over for Ghana’s cedi, Africa’s third-worst-performing currency this year. Analysts said the unit, which has already lost more than 7% against the dollar, could continue to weaken despite the International Monetary Fund’s $3 billion bailout following the country’s 2022 default. Ghana has secured workouts with …

The cedi is expected to remain relatively stable on the forex market this week. Analysts believe a positive Mid-Year Budget Review this month and a successful first evaluation of the International Monetary Fund programme could set the tone for the local currency’s trajectory in the second half of 2023. The …

Ghana’s local currency -the cedi has been classified among Africans currencies with the ‘worst Spot Returns. This is according to a Bloomberg report. On the World Currency Ranker the cedis performance placed 17th, depreciating by 11.21 percent. According to Bloomberg although the cedi lost about 11.21% to the US dollar …

Pressure on the Ghana cedi continues to surge after some sterling performance two weeks ago, making it the world’s top-performing currency during the period. The local currency lost about 9% in value last week to the US dollar in the retail market to reverse the previous week’s gains. It traded …

The Ghana cedi has lost about 5.01% value to the US dollar on the forex or retail market since January 1, 2023. The cedi registered significant gain of 27% in value to the American ‘greenback’ in December 2022 to reduce its year-to-date losses. This was largely due to Ghana’s Staff …

The Ghana cedi is now selling at ¢12 to the US dollar in the retail or forex market, following days of sustained stability. This is about 0.86% loss in value since the beginning of the year. The Bank of Ghana is however quoting a dollar for ¢9.0002 on the interbank …

UK based Economist Intelligence Unit (EIU) is predicting about 22% depreciation of the cedi to the dollar in 2023. This will rank the local currency as the 3rd weakest performing currency on the African continent, according to its Africa Outlook 2023 Report. The EIU expects the exchange-rate weakness to continue …

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 …