{"id":240671,"date":"2024-10-28T12:19:35","date_gmt":"2024-10-28T12:19:35","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/28\/cedi-depreciates-further-sells-at-gh%c2%a216-85-to-1\/"},"modified":"2024-10-28T12:19:35","modified_gmt":"2024-10-28T12:19:35","slug":"cedi-depreciates-further-sells-at-gh%c2%a216-85-to-1","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/28\/cedi-depreciates-further-sells-at-gh%c2%a216-85-to-1\/","title":{"rendered":"Cedi depreciates further, sells at GH\u00a216.85 to $1"},"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 relative stability in July this year, while inflationary pressures continued declining. <\/p>\n

However, checks by GhanaWeb Business as of October 28, 2024, at 10:00 AM show that the cedi is trading at GH\u00a216.85 to the dollar, while the pound is trading at GH\u00a221.53 at some major forex bureaus across the country. <\/p>\n

Additionally, the Euro is trading at GH\u00a217.99 on the retail market. <\/p>\n

The decline of the cedi against major trading currencies 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

SSD\/MA<\/p>\n

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