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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 31, 2024, at 10:00 AM show that the cedi is trading at GH\u00a217.00 to the dollar, while the pound is trading at GH\u00a221.69 in some major forex bureaus nationwide. <\/p>\n
Additionally, the Euro is trading at GH\u00a218.14 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
According to Bloomberg, the cedi has traded almost 1% lower against the dollar in the past month after declining in value by almost 24% this year.<\/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
SSD\/MA<\/p>\n
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