Finance

US$1 hits GH¢12.10 as Cedi depreciation continues unabated

File photo

The Ghana cedi has been under pressure in the past few days as it hit GH¢11 to a dollar on October 8, 2022.

Checks by GhanaWeb Business at some forex bureaus on October 14, 2022, have shown that a dollar is selling at GH¢12.10.

The rate at which the cedi is depreciating has been a great source of worry for many including traders as they complain about the dwindling of their capital.

The UK Pound is however selling at GH¢13.00 while the Euro sells at GH¢11.20.

Meanwhile, traders in the Ashanti Region locked their shops in protest of the cedi’s depreciation and the rising cost of living in the country.

It is however not known when the cedi will stabilize but it is expected that the $1.2 billion Cocoa Syndicated Loan will arrive in the country soon.

CLICK HERE TO DOWNLOAD PRESS RADIO MOBILE APP

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

Related Articles

Back to top button