Bloomberg

12 Sep

Bloomberg Pegs Cedi To US Dollar Rate At GH¢15.67 As Of September 11

wontumionlineBusinessBloomberg, DOLLAR RATE

Ghana’s local currency continues to experience persistent depreciation against major trading currencies such as the US dollar. The cedi, which has been under pressure throughout the year, recorded some relative stability in July, while inflationary pressures continued to decline. However, Bloomberg reports that the cedi has now weakened by 0.1% to trade at GH¢15.67 per dollar, a situation that will further worsen the woes of the Ghanaian economy amidst the pricing behavior of businesses. The portal also mentioned that Ghana’s dollar bonds maturing in 2032 rose by 0.2 cent to 52.36 cents on the dollar at 11:38 a.m. on September…

04 Jan

Dollar Makes Strong Start To 2023 After Months-long Slump

wontumionlineBusinessBloomberg, dollar, yen

The US dollar posted gains against nearly all its major peers as trading kicked off in 2023 after a seasonal holiday lull. Only the Japanese yen proved stronger than the greenback among Group-of-10 currencies, with the pound, euro and Swiss franc falling sharply. That saw the Bloomberg dollar spot index climb as much as 0.9%, putting it on track for its best day since mid-December. Traders said the moves were exacerbated by thin liquidity. But it was also a reminder that the dollar’s decline in recent months — which is broadly expected to keep going this year — will not…