{"id":233531,"date":"2024-10-16T13:00:32","date_gmt":"2024-10-16T13:00:32","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/16\/cedi-dollar-exchange-rate-hits-gh%c2%a216-55-as-currency-depreciates\/"},"modified":"2024-10-16T13:00:32","modified_gmt":"2024-10-16T13:00:32","slug":"cedi-dollar-exchange-rate-hits-gh%c2%a216-55-as-currency-depreciates","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/16\/cedi-dollar-exchange-rate-hits-gh%c2%a216-55-as-currency-depreciates\/","title":{"rendered":"Cedi-Dollar exchange rate hits GH\u00a216.55 as currency depreciates"},"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 October 16, 2024, at 10:00 AM show that the cedi is trading GH\u00a216.55 to the dollar, while the pound is trading at GH\u00a221.39 some major forex bureaus across the country. <\/p>\n

Additionally, the Euro is trading at GH\u00a217.92 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

SSD\/MA<\/p>\n

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