Dollar to Cedi Exchange Rate now over $1 to GHS17.00

Today, the Ghana Cedi sadly crossed over GHS17.00 on the current exchange market. Today $1 sold for GHS17.01 as the cedi continues to depreciate against the dollar and other foreign currencies.

Ghana’s local currency continues to experience persistent depreciation against major trading currencies such as the US dollar.

The continued fall in the value of the cedi is a testament that all is not well with the local economy. Historic data shows that the Cedi hardly appreciates against the dollar, and when it does, the stability is a short-lived moment.

The Ghana Cedi has been under intense pressure from the major trading currencies since the start of the year, although it appreciated in July 2024.

In September, the cedi traded almost 1% against the dollar; however, year-on-year data showed it had lost almost 24% of its value, per reports by Bloomberg.

READ: Dollar to Cedi Exchange Rate: Cedi Crashes Again! Ghanaians Brace for Harder Tim …

With the yuletide inching closely in an election year, the cedi may depreciate further if the managers of the economy fail to put the economy in order.

The portal also mentioned that Ghana’s dollar bonds maturing in 2032 rose by 0.2 cents to 52.36 cents on the dollar at 11:38 a.m. on September 11, 2024, in London.