The Bank of Ghana’s latest Summary of Economic and Financial Data has revealed that the cedi lost 19.2% in value to the US dollar in almost seven months of 2022.
According to the data, the local currency went for ¢7.43 to the American ‘greenback’ on the interbank market as of July 22nd, 2022.
Currently, the cedi is selling at about ¢8.30 pesewas to the US dollar on the retail market.
The Ghana cedi depreciated by 16.86% in value to the dollar in the first half of 2022 on the interbank market, but over 20% on the retail forex market.
Source: Rainbow Radio