{"id":227412,"date":"2024-10-07T13:21:12","date_gmt":"2024-10-07T13:21:12","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/07\/cedi-continues-slide-now-selling-at-gh%c2%a216-40-to-the-us-dollar\/"},"modified":"2024-10-07T13:21:12","modified_gmt":"2024-10-07T13:21:12","slug":"cedi-continues-slide-now-selling-at-gh%c2%a216-40-to-the-us-dollar","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/07\/cedi-continues-slide-now-selling-at-gh%c2%a216-40-to-the-us-dollar\/","title":{"rendered":"Cedi continues slide, now selling at GH\u00a216.40 to the US dollar"},"content":{"rendered":"

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Ghana\u2019s local currency continues to experience persistent depreciation against major trading currencies such as the US dollar.<\/p>\n

The cedi, which has been under pressure throughout the year, recorded some relative stability in July this year, while inflationary pressures continued to decline.<\/p>\n

However, checks by GhanaWeb Business as of October7, 2024, at 10:00 AM show that the cedi is trading GH\u00a216.40 to the dollar and 17.00 on online payment platforms, while the pound is trading at GH\u00a221.37 some major forex bureaus across the country.<\/p>\n

Additionally, the Euro is trading at GH\u00a217.91 on the retail market.<\/p>\n

Meanwhile, Bloomberg recently reported that the cedi has now weakened by 0.1% to trade at GH\u00a215.67 per dollar, a situation that will further worsen the woes of the Ghanaian economy amidst the pricing behavior of businesses.<\/p>\n

The cedi has traded almost 1% lower against the dollar in the past month, after declining in value by almost 24% this year, according to Bloomberg.<\/p>\n

The portal also mentioned that Ghana\u2019s dollar bonds maturing in 2032 rose by 0.2 cent to 52.36 cents on the dollar at 11:38 a.m. on September 11, 2024, in London.<\/p>\n

Watch the latest edition of BizTech below:<\/b><\/p>\n