DOLLAR RATE

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

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

wontumionlineBusiness,
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…
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Demand Pressures On Cedi Ease; One Dollar Equals GH¢14.90
30 May

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

wontumionlineBusiness,
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…
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Cedi Hits GH¢14.18 To A Dollar; Year-To-Date Loss Reaches 13.45%
02 May

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

wontumionlineBusiness,
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…
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Fitch Solutions Forecasts End-Year Cedi To Dollar Rate Of GH¢12.25; Currency Depreciates 11% To Dollar
22 Apr

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

wontumionlineBusiness,
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…
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Pressure On Cedi Mounts; One Dollar Equals ¢12.13
14 Nov

Pressure On Cedi Mounts; One Dollar Equals ¢12.13

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

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

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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…
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Government Should Put A Ban On The Importation Of Non-Essential Goods- Kwabena Marfo
21 Oct

Government Should Put A Ban On The Importation Of Non-Essential Goods- Kwabena Marfo

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A communicator of the New Patriotic Party (NPP), Kwabena Marfo, has called for the ban of non-essential goods as most of these items are produced here in Ghana through the 1 district 1 factory agenda. While speaking on the current price hike, Kwabena Marfo stated the depreciation of the cedi is as a  result of the high importation of consumable and non consumable products. Speaking with Kwaku Dawuro on Movement In The Morning Show, he said that ‘’through the one district one factory agenda, Ghana has the capacity to produce non essential goods, but we are still importing which is…
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NDCs Are Behind The Depreciation Of The Cedi- Kwasi Botwe Says
19 Oct

NDCs Are Behind The Depreciation Of The Cedi- Kwasi Botwe Says

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A communicator of the New Patriotic Party, (NPP), Kwasi Botwe has stated the National Democratic Congress (NDC’s) are behind the rampant depreciation of the cedi. According to him they have sponsored the people behind the black market to depreciate the cedi. He said this when he joined Kwaku Dawuro on Movement In The Morning Show on Wednesday 19th October, 2022. Speaking he said that ‘’several factors affects the dollar including the black market-If you go to forex bureau and they don’t have the amount of  dollar you want to exchange, they call the ‘’baba’’ to exchange for you, and these…
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18 Aug

Dollar Shortage Hits Forex Market, Cedi Depreciation Nears ¢10 Mark

wontumionlineBusiness,
Dollar shortage has hit the forex market as the rate of depreciation of the Ghana cedi nears GH¢10 to one US dollar. Checks with some banks and forex bureau by Joy Business indicate that whilst some banks are quoting ¢9.95 to the dollar, others are selling a dollar for ¢9.90. However, the situation is worst at the forex bureaus as they are quoting between ¢9.97 and ¢10.5 to one American greenback. As of Monday, August 15, 2022, the cedi had lost about ¢3.15 on the face value to the dollar since the beginning of the year. Some Senior Relationship Managers…
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