The recent gains by the Ghana cedi has come to a halt as the local currency lost some stability to the US dollar today February 20, 2023.
At the forex bureaus today, the cedi was going for ¢12.90 to one American ‘greenback’.
The same story could also be told about the pound and the euro, as the cedi was being sold for ¢15.20 and ¢13.60 respectively.
However, the Bank of Ghana is quoting a dollar at ¢10.80 on the interbank market.
On Friday, February 17, 2023, the cedi traded at ¢12.75 to one American currency.
Prior to that, the cedi had for two weeks running recorded improvement in value to the dollar.
It had gained about 3.12% in value ending February 10, 2023 to the world’s most powerful currency.
Some analysts were anticipating that a successful closure of the Domestic Debt Exchange Programme will have helped improve the stability of the currency.
But with the expected International Monetary Fund (IMF) support programme in March 2023, the recent depreciation trend may soon be reversed.
Latest Stories
-
Environmental protection officers receive training on how to tackle climate change
2 minutes -
CLOGSAG vows to resist partisan appointments in Civil, Local Government Service
1 hour -
Peasant Farmers Association welcomes Mahama’s move to rename Agric Ministry
1 hour -
NDC grateful to chiefs, people of Bono Region -Asiedu Nketia
1 hour -
Ban on smoking in public: FDA engages food service establishments on compliance
1 hour -
Mahama’s administration to consider opening Ghana’s Mission in Budapest
1 hour -
GEPA commits to building robust systems that empower MSMEs
1 hour -
Twifo Atti-Morkwa poultry farmers in distress due to high cost of feed
1 hour -
Central Region PURC assures residents of constant water, power supply during yuletide
1 hour -
Election victory not licence to misbehave – Police to youth
1 hour -
GPL 2024/2025: Nations thrash struggling Legon Cities
1 hour -
Electoral offences have no expiry date, accountability is inevitable – Fifi Kwetey
1 hour -
Ghanaians to enjoy reliable electricity this Christmas – ECG promises
2 hours -
Police deny reports of election-related violence in Nsawam Adoagyiri
2 hours -
‘We’re not brothers; we’ll show you where power lies’ – Dafeamekpor to Afenyo-Markin
2 hours