{"id":1230166,"date":"2022-10-20T20:00:16","date_gmt":"2022-10-20T20:00:16","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/10\/20\/%c2%a214-50-equals-1-as-cedi-depreciation-continues\/"},"modified":"2022-10-20T20:00:16","modified_gmt":"2022-10-20T20:00:16","slug":"%c2%a214-50-equals-1-as-cedi-depreciation-continues","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/10\/20\/%c2%a214-50-equals-1-as-cedi-depreciation-continues\/","title":{"rendered":"\u00a214.50 equals 1$ as cedi depreciation continues"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/1666292802_199_Dollar-and-cedi-1024x595.png\" \/><\/p>\n<div id=\"article-text\">\n<p>The Ghana cedi continued its free fall, losing value twice within a day to sell at \u00a214.50 to one US dollar.<\/p>\n<p>This translated to 5.45% depreciation in a day and 17.5% in four days of the week.<\/p>\n<p>It began the day at \u00a213.75 to the American \u2018greenback\u2019 but declined in value further to \u00a214.50<\/p>\n<p>In nominal terms, the cedi has lost about 135% value to the world\u2019s most important currency.<\/p>\n<p>In real terms, the local currency has depreciated by about 55% to the dollar.<\/p>\n<p>The cedi also lost more grounds to the pound and euro, despite the two currencies struggling to compete with the US dollar.<\/p>\n<p>It is going for \u00a216 to the pound and \u00a213.3 to the euro.<\/p>\n<p><strong>$1 sold for \u00a213.75 <\/strong><\/p>\n<p>The woes of the Ghana cedi continued as it depreciated further to about \u00a213.75 to the US dollar in the morning of October 20, 2022, less than a day, after reaching \u00a213 on October 19.<\/p>\n<p>This is equivalent to about 12% depreciation in only four days of this week.<\/p>\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-myjoyonline-com wp-block-embed-myjoyonline-com\"\/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Ghana cedi continued its free fall, losing value twice within a day to sell at \u00a214.50 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 \u00a213.75 to the American \u2018greenback\u2019 but declined in value further to \u00a214.50 In [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1229702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[672,5411,2129,2296],"class_list":["post-1230166","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-cedi","tag-continues","tag-depreciation","tag-equals"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1230166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1230166"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1230166\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1230166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1230166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1230166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}