Tag Archives: Dollar

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 …

The Ghana Medical Association (GMA) has served notice to the government that in future negotiations, they will advocate for doctors and other health professionals’ salaries to be pegged to the US dollar. Speaking at the 64th Annual General Conference of the Association at Bolgatanga in the Upper East Region, the …

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 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 …

London-based Economist Intelligence Unit (EIU) is expecting the cedi’s end of year rate against the dollar to hit ¢7.87 as captured in its April 13, 2022, assessment of the Ghanaian economy. The expected depreciation of the local currency against the dollar for the next eight months of this year, according …