Pounds

¢14.50 Equals $1 As Cedi Depreciation Continues
21 Oct

¢14.50 Equals $1 As Cedi Depreciation Continues

wontumionlineBusiness, ,
The Ghana cedi continued its free fall, losing value twice within a day to sell at ¢14.50 to one US dollar. This translated to 5.45% depreciation in a day and 17.5% in four days of the week. It began the day at ¢13.75 to the American ‘greenback’ but declined in value further to ¢14.50, according to quotations by the forex bureaus. In nominal terms, the cedi has lost about 135% value to the world’s most important currency. In real terms, the local currency has depreciated by about 55% to the dollar. The cedi also lost more grounds to the pound…
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British Pound Plummets to Record Low Against the Dollar
26 Sep

British Pound Plummets to Record Low Against the Dollar

wontumionlineBusiness,
The British pound fell to a new record low against the US dollar of $1.035 on Monday, plummeting more than 4%. The slide came as trading opened in Asia and Australia on Monday, extending a 2.6% dive from Friday — and spurring predictions the pound could plunge to parity with the US dollar in the coming months. The unprecedented currency slump follows British Chancellor of the Exchequer Kwasi Kwarteng’s announcement on Friday that the United Kingdom would impose the biggest tax cuts in 50 years at the same time as boosting spending. The new tax-slashing fiscal measures, which include scrapping plans for rising corporation…
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