<\/p>\n
Ghana\u2019s local currency continues to experience persistent depreciation against major trading currencies especially the US dollar, pound sterling and Euro.<\/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 24, 2024, at 11:15 AM on cedirates.com show that the cedi is trading at GH\u00a216.55 to the dollar at some forex bureaus.<\/p>\n
This means that to get $100 you need GH\u00a21655 and GH\u00a21700 when you want to make an online purchase.<\/p>\n
The pound is trading at GH\u00a221.70 at some major forex bureaus across the country.<\/p>\n
Additionally, the Euro is trading at GH\u00a218.10 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 behaviour 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 cents 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