Tag Archives: Dollar

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 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 …

Tanzanians are now forced to dig deeper into their pockets to pay for imports and other foreign products in the country amid a worrying shilling fall to an all-time low against the United States dollar. The Central Bank of Tanzania (BoT)’s indicative exchange rates as of August 16, 2023, show …

Nigeria’s dollar bonds rallied after President Bola Tinubu scrapped the nation’s $10 billion fuel subsidy program and announced plans to adopt a uniform exchange rate. Debt due in 2047 jumped 3.3% to 66.750 cents on the dollar by 10:10 a.m. in London. Bonds due in 2049 gained 2.9% and those …

The US greenback has been considered one of the most powerful currencies in the world. But in recent times, some countries have made the decision to de-dollarize. De-dollarisation refers to countries reducing their dependence on the U.S. dollar as a reserve currency, medium of exchange, or as a unit of …

Kenyan president William Ruto has announced that the dollar exchange rate in the East African nation will plummet soon citing a number of economic interventions. Key among them is that his country was currently buying their fuel needs in the local Kenyan Shillings from some suppliers. In a video circulating …

Brazil’s president Luiz Inácio Lula da Silva has called on developing countries to work towards replacing the US dollar with their own currencies in international trade, lending his voice to Beijing’s efforts to end the greenback’s dominance of global commerce. Kicking off his first state visit to China since taking …

South Sudan’s government has suspended the use of the US dollar and instead directed all transactions be executed in the local currency, the South Sudanese pound (SSP), in a move feared to stifle economic activity in the war-ravaged economy. Most transactions in the country are carried out using the US …

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 …

A write-up issued by Tiger Eye PI ahead of its Galamsey Economy exposé which will air on November 14 and 15 has implicated the Minister of State at the Ministry of Finance, Charles Adu Boahen, of taking huge sums of monies from a business tycoon at the United of Arab …