{"id":249442,"date":"2024-11-12T09:04:53","date_gmt":"2024-11-12T09:04:53","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/11\/12\/cedi-sells-1-at-gh%c2%a216-30-at-bog-gh%c2%a217-20-at-major-forex-bureaus\/"},"modified":"2024-11-12T09:04:53","modified_gmt":"2024-11-12T09:04:53","slug":"cedi-sells-1-at-gh%c2%a216-30-at-bog-gh%c2%a217-20-at-major-forex-bureaus","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/11\/12\/cedi-sells-1-at-gh%c2%a216-30-at-bog-gh%c2%a217-20-at-major-forex-bureaus\/","title":{"rendered":"Cedi sells $1 at GH\u00a216.30 at BoG, GH\u00a217.20 at major forex bureaus"},"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

As of November 12, 2024, the Bank of Ghana is buying $1 at GH\u00a216.29 and selling at GH\u00a216.30.<\/p>\n

The British Pound is being bought at GH\u00a220.96 and sold at GH\u00a220.98 while the Euro is being bought GH\u00a217.35 and sold at GH\u00a217.37.<\/p>\n

However, checks by GhanaWeb Business as of November 12, 2024, at 10:00 AM show that the cedi is trading at GH\u00a217.20 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

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