• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Cedi ranks 5th worst-performing currency in Africa

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
204
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Cedi ranks 5th worst-performing currency in Africa

Ghana’s cedi, according to Professor Steve Hanke’s, CurrencyWatchlist, is the 5th worst-performing currency on the African Continent.

Globally, the cedi is the 13th worst-performing currency.

According to the Professor of Applied Economics and Director of the Troubled Currencies Project in the United States, the Ghanaian cedi has depreciated by 42.57% against the dollar since January 2020.

Official data from Ghana’s Central Bank puts the YTD depreciation rate of the cedi against the dollar at 35% for this year – 2022.

Professor Hanke’s currency watchlist, constitutes a group of currencies that have depreciated by at least 20% against the dollar since January 2020.

He explains that the currencies of the countries on his list have suffered massive devaluations against the US dollar since January 2020.

RelatedPosts

Nigerian Crude Oil Hits $70/barrel Amid Global Tensions

Government to Expand Water-Energy-Nexus Project Nationwide to Boost Food Security

Fixtures and Results of the second-leg of First Preliminary Round of 2025/26 TotalEnergies CAF Champions League

According to the latest ranking by Hanke’s Currency Watchlist, the Zimbabwean dollar has been rated the worst-performing currency in Africa against the United States dollar. The Zimbabwean dollar has depreciated against the USD by 97.33% since Jan. 2020.

Coming in second place is Sudan. The Sudanese pound has depreciated against the USD by 84.95% since Jan 2020. According to Hanke, the only way to save Sudan’s pound and its economy is to install a currency board.

South Sudan ranks third on the list after the nation’s currency depreciated against the USD by 50.79% since Jan 2020. According to Hanke, South Sudan’s economic death spiral never ends.

Nigeria ranks 4th on the list of worst-performing currencies in Africa and 11th globally as the currency’s value has depreciated against the USD by 48.87% since Jan 2020.

Malawi ranks 6th place in Hanke’s #CurrencyWatchlist. The kwacha has depreciated against the USD by 39.54% since Jan 2020, by measure, and is yet another central bank junk currency, said Hanke in a Twitter post.

Sierra Leone takes 7th place in Hanke’s #CurrencyWatchlist. The Sierra Leone has depreciated against the USD by 31.23% since Jan 1, 2020. According to Hanke, the country’s currency redenomination has done nothing to end its economic death spiral.

Below is Hanke’s currency watchlist:

Tags: Bank of Ghana (BoG)cediCedi ranks 5th worst-performing currency in AfricaCurrencyWatchlist
No Result
View All Result

Highlights

U-20 World Cup: Chile, Paraguay, Japan, and Ukraine Claim Victories on Opening Day 

Dangote Refinery Resumes Petrol Sales in Naira After Last-minute Gov’t Intervention

Premier League: Liverpool’s Perfect Start Ends, Man United Stumbles Again

Farming at the Crossroads: NorvanReports Xspace to Probe How Galamsey Threatens Ghana’s Food Security

Global 5G Connections Projected to Reach 9 Billion by 2030

World Bank Court Blocks Niger From Selling Uranium From Somaïr Mine

Trending

Economy

Nigerian Crude Oil Hits $70/barrel Amid Global Tensions

September 28, 2025

Nigerian Crude Oil Hits $70/barrel Amid Global Tensions Nigerian crude settled at about $70 per barrel, up...

Government to Expand Water-Energy-Nexus Project Nationwide to Boost Food Security

September 28, 2025

Fixtures and Results of the second-leg of First Preliminary Round of 2025/26 TotalEnergies CAF Champions League

September 28, 2025

U-20 World Cup: Chile, Paraguay, Japan, and Ukraine Claim Victories on Opening Day 

September 28, 2025

Dangote Refinery Resumes Petrol Sales in Naira After Last-minute Gov’t Intervention

September 28, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.