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On August 18th, 2022, the Ghana cedi reached the GHC10 mark, trading at GHC10.01 in the retail market. Simultaneously, the cedi fell from GHC10 to the Euro.
Also, 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 this regard, the Bank of Ghana announced measures to help address the cedi depreciation as well as the rising inflation.
The Business Edition of PM Express, tonight delved into what banks can do to resolve the depreciation of the cedi.
The guest for the discussion was the Chief Executive of the Ghana Association of Bankers, John Awuah. Stay tuned.
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