Source: Africa Publicity
The Ghana Cedi is the world’s fourth worst-performing currency, a new Bloomberg’s ranking of top 150 currencies globally has revealed.
Data from Bloomberg shows that the Ghana Cedi depreciated by 0.2% to 14.9335 per dollar by the close of trading in Accra on Monday, June 10, 2024.
Bloomberg says since the beginning of 2024, the Ghanaian Cedi has declined in value by 20% against the US dollar.
According to Bloomberg, the depreciation of the Cedi is due to increased demand for the US dollar to buy petroleum products, pharmaceuticals, and other goods that Ghana imports regularly.
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