On the interbank foreign exchange market, the Ghana Cedi has lost almost 19.6% of its value in relation to the US dollar.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Ghana Cedi has depreciated by about 19.6% to the US dollar on the interbank forex market as of July 2024, the Bank of Ghana has disclosed

This is lower than the about 21% loss in value to the American greenback on the retail market.

According to the Central Bank’s July 2024 Summary of Financial and Economic Data, the cedi lost 7.7% in value to the dollar in March 2024 and depreciated by 10.5% against the dollar in April 2024.

It again lost 15.9% and 18.6% in value to the Dollar in June 2024 and July 2024 respectively.

Whilst it is going for GH¢15.60 on average against the dollar on the retail market, the Bank of Ghana is quoting one dollar as GH¢14.78.

Source: newsthemegh.com