The Ghana cedi for the third-day running strengthened in value against the US dollar and the other major foreign currencies.
It is now going for ¢12.80 on the average to the American ‘greenback’, according to checks by Joy Business at some foreign bureaus.
The local currency is also selling at ¢12.85 to the euro and ¢15.00 to the British pound respectively.
It appears the continuous weakening of the dollar against major foreign currencies and clarity on Ghana’s debt restructuring programme is helping the cedi to improve in value against the US dollar.
Therefore, the rate of depreciation of the cedi has narrowed to about 48%.
Last week, the local currency gained 3.12% against the dollar, 0.88% to the pound and 3.79% versus the euro on the retail market.
Cedi sold at ¢13 to dollar yesterday
The cedi sold at ¢13.00 on the average at most forex bureaus on December 8, 2022.
Latest Stories
-
London talks to thrash out ‘pathway to peace’ for Sudan
7 minutes -
Ghana’s growing democracy is a positive sign – Miracles Aboagye
26 minutes -
When a civilian President wears the uniform in an anxious democracy
35 minutes -
Gov’t, IMF reach staff-level agreement over ECF programme; $370m to be made available by Fund
36 minutes -
I feel tempted to laugh at how the NDC is struggling to fight galamsey – Miracles Aboagye
49 minutes -
Harnessing the Wind: A strategic roadmap for wind energy development in Africa – A Ghanaian case study with global insights
55 minutes -
We are restructuring and rebuilding our party-Miracle Aboagye
56 minutes -
We should be careful about how we attempt to politicise galamsey – Miracles Aboagye
1 hour -
TikTok parking fine videos force council review
1 hour -
Fixing power, not blame: Rethinking ECG’s role through evidence-based reform, operational discipline, and global best practices
1 hour -
Good cops, bad cops – how Trump’s shifting tariff team kept world guessing
2 hours -
Appointments Committee lost its focus during my vetting; some members attempted to settle personal scores – Sam George
2 hours -
Iraq sandstorm leaves many with breathing problems
2 hours -
Afghan girls turn to low-paid carpet weaving after school ban
2 hours -
Sudan’s siege city – BBC smuggles in phones to reveal hunger and fear
2 hours