Another Free-Fall? Ghana Cedi Starts Bleeding Again

Just a month into the year, the Ghana cedi has started showing early signs of depreciating against the major currencies.

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

The Ghana Cedi appears to be coming under some pressure again. This has seen the local currency go down marginally. As at December last year, one needed 3 Ghana cedis 1 pesewa to get a dollar from the Forex Bureau, but it is now 3 Ghana cedis 4 pesewas to a dollar.

Some economic analysts said the Ghana cedi could depreciate to about GH¢4.20 by the end of the year if measures are not put in place to curb the situation.

The cedi in the first nine months of 2014 slumped almost around 37%.

The slowdown of the cedi’s depreciation in the last quarter of 2014 has triggered debate among politicians which 2012 presidential candidate of the NPP, Dr Mahamadu Bawumia predicted a further depreciation of the cedi against major trading currencies in the coming days if the current economic conditions in the country continuous.

Some economists have also cautioned government to be proactive to be able to put all these scenarios into consideration and do a better prediction of how the currency is going to be.

Download our mobile app today.

Android - Google Play Store

iPhone - Apple App Store

Recommended Articles

Recommended Videos





Top Articles

1 Francisca Oteng-Mensah 24 year old MP complains about unbearable...bullet
2 Asantehemaa's Death Funeral of Asantehemaa underway [Photos]bullet
3 Corruption I'll make sure Opuni goes to jail - Kennedy Agyapongbullet
4 Christmas Hamper Nana Addo rejects $500,000 from corporate...bullet
5 Manhyia Palace One shot, several collapse at Asantehemaa’s funeralbullet
6 Asantehemaa’s Funeral Nana Afia Kobi to be buried with gold...bullet
7 Gambia Crisis Twitter explodes with rage over Hanna Tetteh's...bullet
8 Asantehemaa's Funeral Mahama, MPs mourn Asantehemaa [Photos]bullet
9 Asantehemaa's Death I'm homeless; Otumfuo Osei Tutu II...bullet
10 Gambia Crisis Ghana deploys military to Gambiabullet

Top Videos

1 In Zimbabwe President Mugabe’s 70 year-old aide marries his 23-year-old...bullet
2 Refugee Ghanaian to lose fingers after 7-hour trek to cross US borderbullet
3 Vitiligo Enam Honya - is challenging what you think about beautybullet
4 Obinim What happen'd when we fact checked Obinim's Bible knowledgebullet
5 Video Taxi driver terrified after an encounter with a ghostbullet
6 Obinim saga We had sex only once - Obinim victims confessbullet
7 Woyome Judgement Debt Kweku Baako dances over Amidu's winbullet
8 Watch Kumchacha delivers Counselor Lutterodt from 'demons'bullet
9 Bishop Obinim Saga Teenagers disciplined by Obinim speak outbullet
10 Kwame Nkrumah Interchange Water leaks from hole in...bullet

News