Cedi depreciates further to ¢14.70 to a dollar
The Ghana cedi lost further grounds this morning to trade at ¢14.70 to the dollar, quotations from the forex bureaus indicate.
The local currency lost 20 pesewas in value to the American ‘greenback’. It sold for ¢14.50 last night.
Whilst the euro also appreciated marginally against the cedi, the local currency remained stable against the pound. It is going for ¢13.40 to the euro and ¢16.00 to the pound.
The cedi again lost significant value to the Chinese yuan in less than a day. It is selling at ¢2.3 to the yuan, from yesterday’s (October 20, 2022) price of ¢1.4.
Similarly, it depreciated against the South African rand going for ¢1.9, from the previous price of ¢1.4.
¢14.50 equals $1 as cedi depreciation continues
The Ghana cedi continued its free fall, losing value twice within a day (October 20, 2022) to sell at ¢14.50 to one US dollar.
This translated to 5.45% depreciation in a day and 17.5% in four days of the week.
It began the day at ¢13.75 to the American ‘greenback’ but declined in value further to ¢14.50, according to quotations by the forex bureaus.
source: myjoyonline.com
