05
Apr
The depreciation of the Ghanaian cedi against the US dollar continues its upward trend on the commercial forex market, with the loss in value nearing 10% for the first four months of 2024. Since the beginning of the year, the cedi has experienced marginal depreciation marking a year-to-date depreciation of approximately 9.37%. However, this marks a significant decline in the 22.73% depreciation recorded as of April 2023. In real terms, the exchange rate of the cedi to the dollar by commercial banks has reached an all-time high, pegged at GHS 13.055 to a dollar, compared to GHS 11.55 during the…