weekly loss

The Ghana cedi lost 14.47% in value to the dollar last week (October 17 to October 21, 2022), the worst weekly loss in over 30 years. The situation was slightly worst against the pound and euro – two currencies struggling against the US dollar. The cedi closed last week (October 21, 2022), trading at an indicative rate of ¢12.5307/US$ on the interbank market. It also plunged 14.85% week-on-week against the pound and 15.41% to the euro. On the retail market, the cedi traded at a mid-rate of ¢14.1500/US$ (54.13% year-to-date depreciation) at last week’s close. Databank Research said the local…