The Ghanaian cedi has recorded its strongest first 120-day performance against the US dollar under the current administration of President John Dramani Mahama, ranking top among all presidential transitions since the cedi was redenominated in 2007. A comparative analysis by JoyNews Research reveals that from January 7 to May 7, 2025, the cedi appreciated by 9.25%, moving […]
The Ghana cedi lost 1.57% to the US dollar on the retail market last week despite the Bank of Ghana’s intervention of US$137.35 million. This took the year-to-date loss to 2.66%. It was the second week running that the local currency slipped against the American greenback after an impressive session. The announcement of the scrapping […]
The pound hit its highest level against the dollar in a year on Wednesday as investors bet on UK interest rates staying higher for longer. Fresh data on Wednesday showed the rate of inflation was proving more stubborn than expected by some analysts. This prompted traders to cut bets on an easing of rates in […]
Ms. Joyce Bawah Mogtari, special aide and spokesperson for the National Democratic Congress (NDC) flagbearer John Mahama, has refuted media reports suggesting that the former President pledged to stabilise the Ghanaian cedi within 100 days of taking office. Ms. Mogtari clarified that Mahama did not make such a promise but instead presented a detailed strategy […]
Ghana’s currency, the cedi, has emerged as the top-performing currency against the US dollar in the past six months, bolstered by investor optimism that the country is on the verge of obtaining approval from the International Monetary Fund (IMF) for a $3 billion bailout. Since November, the cedi has gained an impressive 33%, outpacing around […]
The Ghanaian currency has continued to strengthen the trend against the US dollar and all the other major foreign currencies. The cedi in the last two weeks has been on a path of resurgence against all the major trading currencies. The local currency is currently trading at ¢8 to a dollar on the interbank market. […]
In an effort to halt speculation and stabilitise the foreign exchange market in the country, the Bank of Ghana will hold (Tuesday October 25, 2022) hold series of discussions with the leadership of universal banks and Forex Bureau Associations, starting Tuesday. The Minister of Information, Kojo Oppong Nkrumah, who made this known at a press […]
The Minister of Finance, Ken Ofori-Atta, has assured Parliament that the government and the Bank of Ghana (BoG) are on top of efforts to slowdown the depreciation of the cedi against its major counterparts. Mr Ofori-Atta said the 30 per cent in public spending this year was meant to augment policies by the central bank […]
Gold dealership firm, Brenley Quartz Company Limited, says the video that has gone viral showing a group of young men arranging bulk cash at a premises, was filmed in their office premises about three months ago and that it had nothing to do with government or any government official. According to the official website of […]
Ghana’s local currency, the Cedi has made significant gains against its major trading partner, the US dollar ($) in 2020. This earned the Cedi its current position as the best performing currency against the dollar globally according to Bloomberg. As it is always done, every Ghanaian professes to be an expert in analysing economic phenomenon […]
