Tag Archives: CEDI

The Ghana Union of Traders’ Associations (GUTA), has urged government to sustain its efforts aimed at stabilising the country’s local currency; the cedi. In a release signed by its President, Joseph Obeng, GUTA said it has taken note of the recent gains made by the cedi against major trading currencies …

The Ministry of Finance has noted recent wins by the national currency, the Ghana cedi, according to a Bloomberg report of December 9. The official handle of the Ministry shared a photo from the Bloomberg article showing the gains made by the cedi. The graphic showed that the Ghana cedi …

Ken Ofori-Atta, Minister of Finance, disclosed in the 2023 budget statement that Ghana’s public debt has increased by GH₵93 billion ($6.53 billion at the current rate) due to the depreciation of the Ghanaian cedi since the beginning of 2022. According to him, the said amount is twice more than the …

The Asantehene, Otumfour Osei Tutu II, has appealed to the bank of Ghana to take necessary steps to stabilize the forex market. In a speech read on his behalf at the 19th Ashanti Business Excellence Awards by Sewuahene, Nana Kwaku Sarkodie, the Asantehene expressed worry over the depreciation of the …

In the midst of a depreciating currency, past views of members of the governing New Patriotic Party, NPP, have often become topical. Past social media posts – Twitter and Facebook – on the performance of the Ghana cedi has often been dug up to point to how critical NPP leaders …

President Akufo-Addo has called on Ghanaians to stop the unfounded speculations about the value of the local currency against other major trading currencies across the globe. Addressing the nation on Sunday, he said the speculations have contributed to the consistent depreciation in the value of the cedi in recent times. …

Financial Analyst at Dalex Finance, Joe Jackson, is optimistic the local currency – Cedi – will soon stabilize and trade among major trading currencies, especially the US dollar. According to him, dollars will soon not be on the market due to the unwillingness of Ghanaians to purchase the currency at …

Steve H. Hanke a professor of Applied Economics at the Johns Hopkins University, has reiterated his point that the managers of the Ghanaian economy need to establish a currency board in order to save the fallen cedi against the dollar. The Professor, who is based in the US, for some …

For nine months this year, the cedi has lost 40.05% in value to the US dollar, according to data from Bloomberg. This makes the cedi the second-worst performing currency in the world. The cedi is ranked as the worst among the 30 top-performing currencies on the African continent. In July, …

The Ghana Cedi has been ranked as the second worst-performing currency in the world after Sri Lanka’s Rupee, a Bloomberg report has said. The international news portal said the Cedi lost its value by 40.05 percent to the United States dollar in the first nine months of 2022 – making …