DOLLAR RATE Archives - Page 2 of 2

04 Sep

Cedi Sells At GH¢16.06 To $1, GH¢21.04 To £1 On September 4

Wontumi1BusinessCedi to dollar, DOLLAR RATE

Ghana's local currency (the cedi) has been depreciating against major trading currencies, especially the US dollar, in recent times. As of Wednesday September 4, 2024, at 10:00 AM, checks by GhanaWeb Business showed that the cedi is selling at GH¢16.06 to $1 at some major forex bureaus in the capital, Accra. This decline in the cedi's value is also evident among other trading currencies such as the British Pound and Euro even though it gained a few pesewas from the previous day. For instance, the local currency is trading at GH¢21.04 to £1 while selling at GH¢17.73 to €1 at major forex…

12 Aug

Cedi Hits GH¢15.90 To $1, GH¢20.31 To £1 At Major Forex Bureaus As Of August 12

Wontumi1BusinessCEDI, DOLLAR RATE

Ghana's local currency (the cedi) continues to decline in value against major trading currencies, especially the US dollar. As of Monday, August 12, 2024, at 10:00 AM, checks by GhanaWeb Business showed that the cedi is selling at GH¢15.90 to $1 at some major forex bureaus in the capital, Accra. This decline in the cedi's value is also evident among other trading currencies such as the British Pound and Euro. For instance, the local currency is going for GH¢20.31 to £1 while selling at GH¢17.38 for €1 at major forex bureaus across the country. International news portal Bloomberg recently ranked…

11 Jun

Cedi Depreciation Slows Down Due To Reduced Foreign Exchange Demand; One Dollar Equals GH¢14.92

Wontumi1BusinessCEDI, DOLLAR RATE

The stabilisation of the Ghana cedi against the major foreign currencies is expected to continue this week, following a slowdown in foreign exchange demand. The local unit recovered some of its losses against the dollar, pound, and euro last week. It gained 1.01% against the US dollar, narrowing its year-to-date loss to 18.01%. Again, the cedi retrieved 2.36% week-on-week and 3.12% week-on-week of its losses against the pound and the euro, respectively. Gradually, the cedi is finding its footing against the major trading currencies after weeks of rough patches. The measures by the Bank of Ghana have been helping to…

30 May

Demand Pressures On Cedi Ease; One Dollar Equals GH¢14.90

Wontumi1BusinessCedi to dollar, DOLLAR RATE

The Ghana cedi posted a mixed performance last week as demand pressures on the US dollar eased for most of the week. However, this week, the cedi is expected to extend its losing run albeit marginally because foreign exchange demand is outstripping supply. But it began the week stable to the American greenback with the year-to-date depreciation at 17.88%. It is presently going for GH¢14.90 to a dollar on the retail forex market. Despite the Central Bank not intervening in the spot market, the cedi gained 0.17% week-on-week against the US dollar to end the week’s trades at a mid-rate…

02 May

Cedi Hits GH¢14.18 To A Dollar; Year-To-Date Loss Reaches 13.45%

Wontumi1BusinessCEDI DEPRECIATION, DOLLAR RATE

The depreciation of the cedi to the dollar continued unabated as the local currency hit GH¢14.18 to the American greenback on the retail market. This is coming despite the Bank of Ghana selling $20 million to the Bulk Oil Distribution Companies (BDCs) in the 51st auction. The local unit has so far lost about 13.45% to the US dollar, making it one of the poor-performing currencies on the African continent in 2024. The local unit began this week, selling at GH¢14.05 to the dollar at most forex bureaus. Though analysts expected this auction to soak up some forex demand on…

22 Apr

Fitch Solutions Forecasts End-Year Cedi To Dollar Rate Of GH¢12.25; Currency Depreciates 11% To Dollar

Wontumi1BusinessDOLLAR RATE, fitch

Fitch Solutions is forecasting an end-year cedi to dollar rate of GH¢12.25 to one US dollar, arguing the the Ghanaian cedi will recoup some of its recent losses in the months ahead. In its Sub-Saharan Africa Currency Round-Up, it said the cedi will strengthen as the government makes progress regarding the restructuring of its commercial debt. “We also expect that the Ghanaian cedi will recoup some of its recent losses in the months ahead, ending the year at GH¢12.25/USD”. The local currency has depreciated by 11.0% against the US dollar so far this year, positioning it among the worst performing…

14 Nov

Pressure On Cedi Mounts; One Dollar Equals ¢12.13

Wontumi1BusinessCEDI, dollar, DOLLAR RATE

The high demand for the US dollar continues to weigh on the Ghana cedi as the local currency lost some ground against the American ground today. According to data from the forex market, the local unit depreciated by 0.41% day-on-day on November 13, 2023. This means the cedi is now going for ¢12.13 on average to one American greenback in the retail market. However, the Bank of Ghana is quoting a dollar to ¢11.52 on the interbank market. Some market analysts are attributing the recent depreciation of the local currency to the Christmas festivities where importers are bringing in more…

26 Jul

I Highly Commend The House Helps For Stealing Cecelia Dapaah’s Money; They Helped Stabilise The Dollar Rate- Kafui Amegah

Wontumi1NewsCecelia Dapaah, DOLLAR RATE, Kafui Amegah, Movement in The Morning

Communication team member for the New Patriotic Party, Kafui Amegah, has highly commended the culprits involved in the theft which occurred at the premise of Honorable Cecelia Dapaah. Kafui Amegah eulogized the accused house helps of the former Minister for Aviation and Sanitation and Water Resources, Honorable Cecelia Dapaah, for stealing her thousands of dollars hoarded in her house in an interview with Kwaku Dawuro, on Movement In The Morning show, which airs on Movement TV/Wontumi radio. According to him the culprits need to be released since the move they made saved the country from crisis by stabilising the dollar…