Banking and Finance
Cedi losses some stability; $1 equals ¢12.90
The recent gains by the Ghana cedi has come to a halt as the local currency lost some stability to the US dollar today February 20, 2023.
At the forex bureaus today, the cedi was going for ¢12.90 to one American ‘greenback’.
The same story could also be told about the pound and the euro, as the cedi was being sold for ¢15.20 and ¢13.60 respectively.
However, the Bank of Ghana is quoting a dollar at ¢10.80 on the interbank market.
On Friday, February 17, 2023, the cedi traded at ¢12.75 to one American currency.
Prior to that, the cedi had for two weeks running recorded improvement in value to the dollar.
It had gained about 3.12% in value ending February 10, 2023 to the world’s most powerful currency.
Some analysts were anticipating that a successful closure of the Domestic Debt Exchange Programme will have helped improve the stability of the currency.
But with the expected International Monetary Fund (IMF) support programme in March 2023, the recent depreciation trend may soon be reversed.
-
Company/Corporate News2 weeks ago
You Are The Foundation Of This Company, Dr. Agyepong Tells Jospong Employees At A Durbar
-
Business4 weeks ago
Lagos State Officials Praise Jospong Group’s Eco-friendly Waste Management Module, Eyes Similar Module
-
General News3 weeks ago
Zoomlion Takes Lead on Climate Change & Worker Safety for World Safety Day
-
Business5 days ago
UNSTOPPABLE: QNET Starts the Second Leg of another 25-Year Journey
-
General News2 weeks ago
Worker’s Day: My 24-hour Economic Policy will empower the Ghanaian Workforce – Mahama
-
Education3 weeks ago
Jospong Group Partners Komptech To Train Over 600 Stakeholders On Integrated Solid Waste Management
-
General News3 weeks ago
Austria To Establish Embassy In Accra This Year
-
Company/Corporate News4 weeks ago
Nestlé Denies Adding Sugars in Milks And Cereals For Infants And Young Children