Depreciation of Ghanaian Cedi to Dollar- US Dollar Now Selling at Ghc15.50

cedi to dollar rate now at 15.50

The Ghanaian Cedi has been hit with some shocks this week as it depreciates to Ghc15.50 to the US Dollar.

The Ghanaian Cedi is performing poorly on the open market against the US Dollar which many blamed the black market traders for its weakness and its inability to remain stable despite some short-term  interventions by the bank of Ghana.

The economy has over the past couple of years been on a downward spiral with respect to the exchange rate and some other indicators.

Many analysts have predicted a continuing trend in the depreciation of the local currency as many attribute it to the upcoming general elections in December.

Others have opined that Bank of Ghana directive to compel banks to halt and deactivate dollar accounts may significantly curb the Cedi currency downward spiral of depreciation.

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