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 […]
Tag: Ghana Cedi
Cedi strengthens further as it goes for ¢8 to $1 on interbank market
The Ghanaian currency has continued to strengthen the trend against the US dollar and all the other major foreign currencies. The cedi in the last two weeks has been on a path of resurgence against all the major trading currencies. The local currency is currently trading at ¢8 to a dollar on the interbank market. […]
Stabilising the cedi; BoG to hold series of discussions with banks, forex associations this week
In an effort to halt speculation and stabilitise the foreign exchange market in the country, the Bank of Ghana will hold (Tuesday October 25, 2022) hold series of discussions with the leadership of universal banks and Forex Bureau Associations, starting Tuesday. The Minister of Information, Kojo Oppong Nkrumah, who made this known at a press […]
30 per cent cut in expenditures will help bolster cedi – Ofori-Atta
The Minister of Finance, Ken Ofori-Atta, has assured Parliament that the government and the Bank of Ghana (BoG) are on top of efforts to slowdown the depreciation of the cedi against its major counterparts. Mr Ofori-Atta said the 30 per cent in public spending this year was meant to augment policies by the central bank […]
CASH VIDEO: Gold dealership firm says cash legitimately withdrawn from bank for payments
Gold dealership firm, Brenley Quartz Company Limited, says the video that has gone viral showing a group of young men arranging bulk cash at a premises, was filmed in their office premises about three months ago and that it had nothing to do with government or any government official. According to the official website of […]
On the Coronavirus – Ghana Cedi Linkage: What Do We Know so Far?-Dr. Muazu Ibrahim Writes
Ghana’s local currency, the Cedi has made significant gains against its major trading partner, the US dollar ($) 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 […]