forex bureaus

06 Feb

Cedi Continues Recent Gain Against Dollar; $1 Now ¢10.40

wontumionlineBusinessCEDI, dollar, Euro, forex bureaus, pound

The Ghana cedi continued its recent gain against the US dollar, starting the week on a positive note. Checks by Joy Business at the forex bureaus indicate that the local currency gained 10 pesewas early morning of February 6, 2023, to sell at ¢10.40 to the dollar. This narrowed its year-to-date loss in the retail market. The same story can also be said about the pound and the euro as the cedi is going for ¢14.80 and ¢13 respectively. The cedi gained about 3.1% value to the American ‘greenback’ last week. A week before, it improved in value by about…

14 Oct

1$ Equals ¢11.62 As Cedi Depreciation Pressures Rise

wontumionlineBusinessCEDI DEPRECIATION, cedi pressures, dollar, forex bureaus

The depreciation pressures on the Ghana cedi continued relentlessly today as the local currency sold at ¢11.62 pesewas in the retail market. This is almost 6% depreciation since Friday, October 7th. Checks by Joy Business at some forex bureaus indicate that the supply of dollars in circulation is insufficient. Some forex bureaus are actually selling the dollar a little above ¢11.62. Some of the operators confirmed that the demand for the ‘American greenback’ have reached an all-time high, similar to the 1980’s and early 90’s. The cedi has since January this year lost more than 40% in value to the…