Cedi crosses GH¢10 to one dollar mark - The World's Biggest Pride
Home / BUSINESS NEWS / Finance / Cedi crosses GH¢10 to one dollar mark

Cedi crosses GH¢10 to one dollar mark

Cedi has been depreciating against the dollar in recent weeks

The Ghanaian currency (the Cedi), which is said to be the second-worst-performing currency across the globe after Sri Lanka’s Rupee, is depreciating faster than anticipated.

Even though the Central Bank has put out some emergency measures to tackle it, the continued depreciation seems to have outjumped the Bank of Ghana’s Monetary Policy Committee’s measures.

As at Friday, August 19, 2022, the Cedi is being traded on the retail market at ¢10 to a dollar.

Checks around the capital’s forex bureaus and banks reveal that some forex are selling a dollar for GH9.98 while others are selling it for GH10.10.
According to some of the forex bureau operators, there is also a shortage of dollars on the market.

CLICK HERE TO DOWNLOAD PRESS RADIO MOBILE APP

They also say that the situation is bad and could get worse in the coming weeks.

 

Source: gbcghanaonline.com

About admin

Check Also

This is how much govt has paid Databank for bond advisory services since 2017

Databank, a company partly owned by the Minister of Finance, Ken Ofori-Atta has reportedly bagged …

Five banks to collapse over debt exchange programme

The Minority in Parliament says the ongoing debt exchange programme will not augur well for …

Pensioners to be excluded from debt exchange programme – Ken Ofori-Atta hints

  Minister of Finance, Ken Ofori-Atta, has provided the strongest hint yet, that pensioners will …

Leave a Reply

Your email address will not be published. Required fields are marked *

WP Twitter Auto Publish Powered By : XYZScripts.com