Audio By Carbonatix
The Ghana cedi strengthened in value against the dollar almost a day after the government launched the Debt Exchange Programme.
The local currency also improved in value against the other major foreign currencies, the pound and the euro.
It is being sold by forex bureaus at an average of ¢13.70 to the American ‘greenback’. It is also going for ¢14 to the euro and ¢16.70 to the pound
It is, however, unclear why the cedi gained value against these major international currencies.
But some market watchers and analysts may attribute it to the Debt Exchange Programme as the government defined the parameters of the programme to pave way for a programme from the International Monetary Fund.
The local currency had remained relatively stable, particularly to the dollar in recent weeks.
It saw a week-on-week appreciation of 3.12% against the dollar, 0.88% to the pound and 3.79% versus the euro on the retail market.
It has however depreciated by a little over 50% since the beginning of the year.
Latest Stories
-
Ayawaso East primary: OSP has no mandate to probe alleged vote buying – Haruna Mohammed
23 minutes -
Recall of Baba Jamal as Nigeria High Commissioner ‘unnecessary populism’ – Haruna Mohammed
27 minutes -
Presidency, NDC bigwigs unhappy over Baba Jamal’s victory in Ayawaso East – Haruna Mohammed
58 minutes -
Africa Editors Congress 2026 set for Nairobi with focus on media sustainability and trust
1 hour -
We are tired of waiting- Cocoa farmers protest payment delays
2 hours -
Share of microfinance sector to overall banking sector declined to 8.0% – BoG
2 hours -
Ukraine, global conflict, and emerging security uuestions in the Sahel
3 hours -
Either defer new royalty regime or abolish Growth and Sustainability Levy – Chamber of Mines to government
3 hours -
The Suit is a shroud ; the fugu is our resurrection
4 hours -
NDC appoints Inusah Fuseini as Ayariga steps down from Ayawaso East primary probe committee
4 hours -
T-bills auction: Government exceeds target by 246%; interest rates fall sharply to 9.9%
4 hours -
Lands Minister arrives in South Africa for annual African mining investment conference
4 hours -
Frank Quaye Writes: Nullify Ayawaso East primary to protect NDC’s integrity and goodwill
4 hours -
Medeama survive Samartex test to reach FA Cup last eight
4 hours -
Vote- buying, party reform, and the unfinished business of internal democracy in the NDC
4 hours