{"id":245352,"date":"2024-11-04T14:14:32","date_gmt":"2024-11-04T14:14:32","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/04\/cedi-depreciates-further-sells-at-gh%c2%a217-15-to-1\/"},"modified":"2024-11-04T14:14:32","modified_gmt":"2024-11-04T14:14:32","slug":"cedi-depreciates-further-sells-at-gh%c2%a217-15-to-1","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/04\/cedi-depreciates-further-sells-at-gh%c2%a217-15-to-1\/","title":{"rendered":"Cedi depreciates further, sells at GH\u00a217.15 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 was 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 4, 2024, at 10:00 AM show that the cedi is trading at GH\u00a217.15 to the dollar, while the pound is trading at GH\u00a221.66 at some major forex bureaus across the country. <\/p>\n

Additionally, the Euro is trading at GH\u00a218.21 on the retail market. <\/p>\n

The decline of the cedi against major trading currencies will further worsen the woes of the Ghanaian economy due to businesses’ pricing behaviour.<\/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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