• 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 Economy

Cedi regains 33% of lost value to dollar in 2 weeks; now GHS 10 to $1

3 years ago
in Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
242
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Cedi regains 33% of lost value to dollar in 2 weeks; now GHS 10 to $1

The local currency (cedi), within a span of 14 days has regained over 33% of its lost value to the dollar.

This is after the cedi recorded a depreciation rate of close to 60% against the dollar in the latter days of the month of November 2022.

The fast appreciation of the cedi against the dollar, has made the local currency the best performing currency against the American greenback.

According to Bloomberg, the cedi as at Wednesday evening was trading at GHS 10 to $1.

It's ¢10.00 to a dollar - Bloomberg dashboard

This is despite opening the day with an exchange rate of GHS 11.25 to $1.

RelatedPosts

Japanese Automakers Toyota and Honda Take a Big Hit From Trump’s Tariffs

Multichoice Ghana Faces Licence Suspension Over Refusal to Cut DStv Prices as Deadline Expires Today

Oil Prices Rise After Trump Targets India’s Imports

On Wednesday alone, the dollar took a nosedive giving the cedi the advantage to appreciate by some 12% to reach the now GHS 10 to $1 exchange rate.

The strengthening of the cedi against its anchor currency – dollar – begun on December 1, 2022 when the IMF Mission Staff led Stephane Roudet arrived in the country to continue discussions on reaching a Staff-Level Agreement (SLA).

It continued its resurgence when the country’s Finance Chief, Ken Ofori-Atta, announced the government’s Domestic Debt Exchange Programme (DDEP) on December 5, 2022, indicating government’s willingness to restore the country’s debts to a sustainable level.

A Staff-Level Agreement (SLA) reached on Monday, December 12, 2022, further strengthened the cedi’s resurgence against the greenback, aiding the cedi to regain 40% of its lost value.

Aside the SLA being a factor to the cedi’s resurgence against the dollar, some experts have also attributed the strong appreciation of the cedi against the dollar to US Fed monetary policy easing and investors turning bearish on the dollar for the first time since July 2021, as possible factors fueling the dollar’s continuous depreciation against the Cedi.

 

 

Source: norvanreports
Tags: cediCedi regains 40% of lost value to dollar in 2 weeksdollar
No Result
View All Result

Highlights

Foreign Capital Inflows Into Banking Sector Hit Five-Year High in 2024

Electricity is Getting Cheaper Across Africa

Summary of Events Following Confirmation of Deaths of Defence and Environment Ministers, Six Others in Military Helicopter Crash

FDI Rises to 3-Year High as Reforms Boost Investor Confidence

Togo is Flexing its Unrivaled Maritime Power

Parliament Expresses Grief Over Death of Ministers, MP and 6 Others in Military Helicopter Crash

Trending

Business

Japanese Automakers Toyota and Honda Take a Big Hit From Trump’s Tariffs

August 7, 2025

Japanese Automakers Toyota and Honda Take a Big Hit From Trump's Tariffs President Donald Trump said he would lower...

Multichoice Ghana Faces Licence Suspension Over Refusal to Cut DStv Prices as Deadline Expires Today

August 7, 2025

Oil Prices Rise After Trump Targets India’s Imports

August 7, 2025

Foreign Capital Inflows Into Banking Sector Hit Five-Year High in 2024

August 7, 2025

Electricity is Getting Cheaper Across Africa

August 7, 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.