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 Watch Water leaks from hole in wall at new Kwame Nkrumah Interchangebullet
2 His Excellency Top 10 John Mahama quotes that will shock youbullet
3 Young Leaders Three Ghanaians recognised by UK Queen for their...bullet
4 Pulse Live Daily EC extends special voting exercise by a daybullet
5 Judgement debt Supreme Court puts on hold Amidu's oral...bullet
6 Presidential Debate Gov't has no jobs for you - Mahama to...bullet
7 2016 Vote for Pulse Person of the Yearbullet
8 Kwabena Boadu One week of demise commemorated [Photos]bullet
9 Farmers Day Friday is not a public holiday - Interior...bullet
10 Tsatsu Tsikata God delivered justice – Wife of Tsatsubullet

Top Videos

1 Kwame Nkrumah Interchange Water leaks from hole in wall at new Kwame...bullet
2 Woyome Judgement Debt Kweku Baako dances over Amidu's winbullet
3 Night Life Some taxi drivers and their night driving experiencesbullet
4 Elections 2016 Nana Addo holds conference in Kumasi ahead of Dec 7...bullet
5 School feeding programme Food for All Ghana helps feed schoolsbullet
6 Obinim saga We had sex only once - Obinim victims confessbullet
7 Video IEA Presidential Townhall 2016bullet
8 Obinim Pastor charged with assault; sent to CID Headquartersbullet
9 Marine Drive Project Time's up, but residents refuse to...bullet
10 Video Taxi driver terrified after an encounter with a...bullet

News