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Ghana’s local currency, the cedi, has experienced marginal gains against major trading currencies, especially the dollar at some forex bureaus.<\/p>\n
On average the cedi is selling at GH\u00a215.12 to $1 compared to GH\u00a216.16 last month.<\/p>\n
The Euro is selling at an average of GH\u00a218.99 whiles the pound is averaging GH\u00a215.78.<\/p>\n
In its daily update, the Central Bank noted that as of December 20, 2024, the cedi is trading at a buying price of GH\u00a214.73 and selling at GH\u00a214.74.<\/p>\n
The British Pound is being bought at GH\u00a218.44 and sold at GH\u00a218.46.<\/p>\n
The Euro trades at a buying price of GH\u00a215.28 and a selling price of GH\u00a215.29.<\/p>\n
Checks by GhanaWeb Business on December 22, 2024, at 10:00 AM show that the cedi is trading at GH\u00a216.05 to the dollar, while the pound is trading at GH\u00a220.25 at some major forex bureaus across the country.<\/p>\n
Additionally, the Euro is trading at GH\u00a217.00 on the retail market.<\/p>\n
Despite the current gains, the decline of the cedi against major trading currencies will further worsen the woes of the Ghanaian economy.<\/p>\n
The Bank of Ghana in its efforts to curb the depreciation of the cedi sold some dollars, worth over 200 million.<\/p>\n
SSD\/MA<\/p>\n
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