Cedi depreciates against Dollar by 19.2% – Report

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According to the Bank of Ghana’s most recent Summary of Economic and Financial Data, the Cedi’s value against the US dollar decreased by 19.2% in just over seven months of 2022.

The records show that as of July 22, 2022, the local currency traded on the interbank market for 7.43 to the American “greenback”.

Currently, the retail market is trading the Cedi for around 8.30 pesewas to the US dollar as sighted on rainbowradio online

In the first half of 2022, the Ghana Cedi lost 16.86 percent of its value against the dollar on the interbank market but gained nearly 20 percent on the retail foreign exchange market.

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