Tag Archives: CEDI

The recent depreciation of the Ghana cedi against the major foreign currencies is expected to continue due to subdued foreign exchange liquidity. Last week, the local currency depreciated across the major trading currencies as foreign exchange liquidity remained subdued. Additionally, Ghana Cocoa Boards’s intention to abandon its annual cocoa syndication …

The Bank of Ghana (BoG) has distinguished itself in stablising the cedi despite the recent economic challenge, President Akufo-Addo has said. Speaking at an end of year cocktail in Accra on Thursday (14 December), Akufo-Addo commended the bank for ensuring a sound financial system in Ghana. “The Bank of Ghana has …

The November 2023 Summary of Economic and Financial Data by the Bank of Ghana has put the depreciation of Ghana’s currency, the cedi, at 25.8% as of November 2023. Per the data, the cedi had remained relatively stable between March and September 2023, selling at GHS 11.01 and GHS 11.13 …

The multimillion cedi Kumasi Krofrom Market in the Kumasi Metropolis of the Ashanti Region have been turned to public toilet by suspected “wee” smokers. The facility which was projected to house traders for business activities is currently a safe haven for criminals and smokers who use the area as a …

Ghana’s local currency is still been classified among African currencies with the ‘Worst Spot Returns’, according to a Bloomberg report. On the World Currency Ranker, the cedi’s performance placed 17th, depreciating by -11.21 percent while the Zambian Kwacha was ranked first among the ‘Best Spot Returns’ for African currencies. The …

The local currency has experienced a reversal of its recent gains, losing 1.48 percent. It traded at GH¢10.98 to the United States (US) dollar at the end of last week. Initially, positive market sentiments prevailed and were attributed to approval of the US$3billion International Monetary Fund (IMF) bailout programme. However, an increase …

The Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye, reiterated that falling fuel prices at the pump is the result of a general reduction on the global crude oil market and a stable cedi, and not the gold-for-oil barter policy. He said domestic consumers, just like …

Scores of the supporters of the governing New Patriotic Party (NPP) on Thursday, December 29, 2022, gathered at the party’s headquarters, Asylum Down in the Greater Accra Region to pray for a stable cedi going into the year 2023. “We desire a stable cedi against the dollar in 2023,” the …

Vice President of policy think tank IMANI Africa has stated his amazement about the current fast run of the cedi against the dollar. According to him, it came as a surprise to realize that the government is using its reserves to strengthen the cedi against the dollar. In a tweet …

The president of the Republic, 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 …