{"id":243820,"date":"2024-11-01T12:29:18","date_gmt":"2024-11-01T12:29:18","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/01\/cedi-weakens-against-dollar-now-gh%c2%a217-00-to-1-as-of-november-1\/"},"modified":"2024-11-01T12:29:18","modified_gmt":"2024-11-01T12:29:18","slug":"cedi-weakens-against-dollar-now-gh%c2%a217-00-to-1-as-of-november-1","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/01\/cedi-weakens-against-dollar-now-gh%c2%a217-00-to-1-as-of-november-1\/","title":{"rendered":"Cedi weakens against dollar, now GH\u00a217.00 to $1 as of November 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 November 1, 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\u00a221.67 at some major forex bureaus across the country. <\/p>\n

Additionally, the Euro is trading at GH\u00a218.19 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

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

SSD\/MA<\/p>\n

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