Audio By Carbonatix
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.
Latest Stories
-
Women. Power. Politics. The Oldest Unpaid Job in the World (Issue 2)
3 minutes -
NDC denies diverting cocoa funds for presidential aircraft purchase, calls claim false
16 minutes -
Full Report: Probe Committee Report on Charles Amissah’s death
19 minutes -
Photos: Veep joins stakeholders at 3i Africa Summit to advance Africa’s digital integration
26 minutes -
Charles Amissah’s death: Committee report should serve as a warning to health workers—Doctor
27 minutes -
Think the weather forecast is unreliable?: Here is why
33 minutes -
Women’s Development Bank to offer low-interest credit for female entrepreneurs – Trade Minister
36 minutes -
UK immigration officer among two men guilty of working for Chinese intelligence
36 minutes -
Fears of renewed Gaza war as Hamas disarmament talks stall
36 minutes -
Israeli military investigates soldier’s act against Virgin Mary statue in Lebanon
37 minutes -
Major rail disruption expected in southern England until end of day
37 minutes -
The ‘Only Way Is Essex’ star Jake Hall dies aged 35
37 minutes -
NDC defends BoG, dismisses NPP’s GH₵44bn loss claims as propaganda
45 minutes -
Medical Laboratory Governance Beyond Rhetoric: Who should control Diagnostic Services in Ghana?
53 minutes -
Former NDC Branch Chairman covers nomination fees for Klottey Korle Executives
55 minutes