Tag: cedi
-
Cedi may not depreciate significantly for the rest of 2020 – Economist
An economic analyst with Databank, Courage Kwesi Boti has said he does not expect the cedi to depreciate significantly against major trading currencies at least for the remainder of the year. The local currency witnessed a 2.53 percent depreciation against the dollar from January to July 2020. A look at the performance of the local…
-
Gov’t, BoG must continue prudent policies to keep cedi stable – Societe Generale’s Deputy MD
The Deputy Managing Director of Societe Generale Bank, Ghana, Ernest Kuetche, is urging the government to keep the local currency stable against major trading currencies such as the US dollar. Despite its constant struggles, the local currency, according to the Bank of Ghana, has appreciated about four percent in value against the dollar since the…
-
Cedi to enjoy continuous stability in Q1 2020 – Analyst
The Head of Trading at Absa Ghana, Jacob Brobbey, says the local currency will continue its strong performance against the dollar at least for the first quarter of the year. So far, the local currency, according to the Bank, has appreciated about four percent in value against the dollar since the start of the year.…
-
Bloomberg ranks cedi as best performing currency in the world against the dollar
Bloomberg has adjudged the Ghana cedi as the best performing currency against the US dollar among the 140 currencies it currently tracks. According to Bloomberg, the local cedi has so far appreciated by 3.4 percent against the dollar as at Monday, February 3, 2020. The fortunes of the cedi look even brighter considering the country…
-
Cedi appreciates against major currencies in January
The local currency has enjoyed a good run against its major trading partners in the first month of the year — appreciating against all the three major currencies, the dollar, euro and pound sterling, according to data released by the Bank of Ghana. The cedi, which depreciated against all the three currencies last year, has…
-
Cedi has been stable for past three years – Finance Ministry
The Director of Financial Sector Division at the Finance Ministry, Sampson Akligoh insists that the Ghana Cedi has enjoyed stability for the past three years. The Ghana cedi has over the years been a subject of serious debate among political actors as it performed poorly against major currencies such as the US dollar. Citing the…
-
![[Audio] Price escalation in Ghana : Traders shun 1& 5 pesewas](https://citibusinessnews.com/wp-content/uploads/2019/10/pesewas.jpg)
[Audio] Price escalation in Ghana : Traders shun 1& 5 pesewas
A decade and two years after the re-denomination of the Ghana cedi, access and use of the 1 and 5 pesewa coins is still on the low. This is because consumers are compelled not to use them to pay for one transaction or another as most traders are still hesitant to accept the denominations as…
-
BoG to issue upgraded cedi notes on May 6
The Bank of Ghana (BoG) is expected to issue upgraded banknotes into circulation on May 6, 2019. The upgraded banknotes will have enhanced security features in line with evolving changes in technological landscape, according to the BoG. The bank additionally said in a statement that the upgraded banknotes also come with improved durability and machine…
-
Cedi depreciates 3.4% to dollar in 2017
The cedi’s losing streak against major trading currencies continues on the foreign exchange market. Even though there is an indication of a marginal improvement in the cedi’s performance, the currency is still struggling to stabilize against major ones. According to the Bank of Ghana, between May and December 2017, the cedi depreciated by 3.4 percent…