<\/p>\n
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
The Bank of Ghana trades $1 at a buying price of GH\u00a215.96 and a selling price of GH\u00a215.98.<\/p>\n
The British pound is trading at a buying price of GH\u00a220.16 and a selling price of GH\u00a220.18.<\/p>\n
The euro is trading at a buying price of GH\u00a216.85 and a selling price of GH\u00a216.86.<\/p>\n
However, checks by GhanaWeb Business as of November 16, 2024, at 7:30 AM show that the cedi is trading at GH\u00a216.55 to the dollar, while the pound is selling at GH\u00a221.35 at some major forex bureaus across the country.<\/p>\n
Additionally, the euro is trading at GH\u00a217.70 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 behaviours 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
SA\/AE<\/p>\n
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