3 Weeks Losing Trend of Ghana Cedi Against And 5 Reasons Why [Check the trend]
Ever since the exchange rate of the Ghanaian cedi has reached its maximum appreciation against the major foreign currencies on the 16th December 2022, the Ghanaian cedi has been on a losing trend over the past three weeks since it reached its maximum regained value.
Below is the exchange rate of the Ghanaian cedi as at 16th December 2022 against the major foreign currencies and the exchange rates of the Ghanaian cedi as at 6th January 2023 without any fluctuation in the exchange rates between the two end points. It is yet to be observed whether the local currency will manage to reverse a bit before it starts it’s losing streak.
The average interbank rates used by commercial banks for transactions at the close of business Friday, 16th December, 2022 are:
USD = ($)
Buying = Ghc7.9972
Selling = Ghc8.0052
GBP = £
Buying = Ghc9.7278
Selling = Ghc9.7383
Euro = €
Buying = Ghc8.4848
Selling = Ghc8.4925
Bank of Ghana Exchange Rates As At Friday 6th January 2023
USD = ($)
Buying = Ghc8.6067
Selling = Ghc8.6153
GBP = £
Buying = Ghc10.2334
Selling = Ghc10.2445
Euro = €
Buying = Ghc9.0633
Selling = Ghc9.0723
The average interbank rates used by commercial banks for transactions at the close of business Thursday 5th January 2023
The five (5) major reasons why the Ghanaian cedi is on a losing streak is thus illustrated here 5 Reasons Cedi’s Loss Of Value Re-start Again
1. Website: www.bog.gov.gh
2. Facebook: thebankof ghana
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