Cedi Strengthens Further As It Goes For ¢8 To $1

The Ghanaian currency has continued to strengthen the trend against the US dollar and all the other major foreign currencies.

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The cedi in the last two weeks has been on a path of resurgence against all the major trading currencies.

The local currency is currently trading at ¢8 to a dollar on the interbank market.

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Pound and euro are also selling at ¢9.80 and ¢8.50 respectively to the cedi.

This is per official interbank exchange rates published by the Bank of Ghana on Friday, December 16.

It is unclear why the sudden improvement of the local currency, but some market analysts are attributing it to a weakening of the US dollar against global currencies and a successful launch of a debt restructuring programme and the Staff-Level Agreement the government has reached with the International Monetary Fund (IMF).

Cedi Strengthens Further As It Goes For ¢8 To $1 Loops Gh Online

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