<\/p>\n
Ghana\u2019s local currency which has been under immense pressure this year has seen some gains this week after the Central Bank sold some dollars to the market.<\/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 14, 2024, the Bank of Ghana is trading $1 at a buying price of GH\u00a216.14 and a selling price of GH\u00a216.15.<\/p>\n
The British Pound is trading at a buying price of GH\u00a220.52 and a selling price of GH\u00a220.54.<\/p>\n
The Euro is trading at a buying price of GH\u00a217.06 and a selling price of GH\u00a217.08.<\/p>\n
However, checks by GhanaWeb Business as of November 14, 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\u00a221.26 at some major forex bureaus across the country. <\/p>\n
Additionally, the Euro is trading at GH\u00a217.73 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 nearly 24% this year, according to Bloomberg.<\/p>\n
SSD\/MA<\/p>\n
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