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The Ghana Cedi is reported to be trading at 9 cedis 90 pesewas to the United States dollar in what analysts say is a significant appreciation after months of struggle with the dollar, Euro, the Pound and other currencies.
A recent currency performance ranking by Bloomberg classified the Cedi as the worst-performing currency across the globe after Sri Lanka’s Rupee.
Bloomberg tracked the performance of 150 currencies in the world and the Cedi placed last but one in terms of performance since the beginning of the year.
In less than 8 months, the Cedi has come under intense exchange rate pressure.
But after going down 10.3 cedis to the dollar, it started off today on a strong footing crawling back to 9.
Minister of State at the Finance Ministry, Charles Adu Boahen attributes the appreciation to the availability of the 750 million dollar Afrexim loan.
Join in the conversation tonight as PM Express discusses how to cement the gains.
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