Cedi depreciates against major trading currencies in weekly pricing window
The Ghanaian cedi experienced a weekly depreciation against the US dollar, British pound, and euro between October 5 and October 12. Despite a brief recovery at the end of the week, the currency opened the new week at lower values.
Why it matters
Currency fluctuations directly impact inflation, import costs, and the cost of living for the Ghanaian population.
Accra, Oct. 12, GNA – The Ghana cedi depreciated against the major trading currencies during the weekly pricing window from October 5 to October 12.
The Bank of Ghana Daily Exchange Rate said the previous trading week began with the cedi trading at GHS11.71 to the US dollar, while the British pound sterling traded at GHS15.40 and the euro at GHS13.10.
However, the new trading week opened on the back of depreciation, with the cedi currently trading at GHS11.79 to the US dollar, GHS15.60 to the pound sterling, and GHS13.20 to the euro.
The previous trading week was characterised by a mix of appreciation and depreciation.
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