Tuesday, March 4, 2025, saw a sharp and unexpected fluctuation in the value of the Ghanaian cedi relative to the US dollar, briefly sparking fear and speculation before being quickly corrected.
Google search results indicated that the cedi had sharply appreciated from its previous exchange rate of GH¢15.30 per US dollar to GH¢8.28 per US dollar at around 3:57 PM, a drastic and unusual shift.
This sudden change raised concerns among market participants, businesses, and the general public, leading to a wave of speculation about possible government interventions, economic policy changes, or systemic errors.
However, by 4:45 PM, the exchange rate had been adjusted back to GH¢15.30 per US dollar, suggesting that the fluctuation was likely due to a data error rather than actual market movements.
Despite its brief nature, the miscalculation caused uncertainty and momentarily disrupted market sentiment, highlighting the sensitivity of exchange rate data in an already volatile economic environment.
Source: www.ghanaweb.com
