Ghana’s local currency, the cedi, has experienced marginal losses against major trading currencies, especially the dollar at some forex bureaus.
As of yesterday, the cedi was selling at GH¢15.95 at forex bureaus.
In its daily update, the Central Bank noted that as of December 20, 2024, the cedi is trading at a buying price of GH¢14.73 and selling at GH¢14.74.
The British Pound is being bought at GH¢18.44 and sold at GH¢18.46.
The Euro trades at a buying price of GH¢15.28 and a selling price of GH¢15.29.
Checks by GhanaWeb Business as of December 20, 2024, at 10:00 AM show that the cedi is trading at GH¢16.05 to the dollar, while the pound is trading at GH¢20.25 at some major forex bureaus across the country.
Additionally, the Euro is trading at GH¢17.00 on the retail market.
Despite the current gains, the decline of the cedi against major trading currencies will further worsen the woes of the Ghanaian economy.
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SSD/MA