Ghana cedis depreciation against USA dollars appreciation

The Ghanian Cedis continues to depreciate as compare to USA dollars one minute ago.

As to day dollar exchange rate to Ghana cedis USA dollars ( $1 ) - GHANA Cedis ( ¢12.35).

On Feb 14,2023 around 8:00am USA dollars was $1 _

Ghana cedis ¢_ 12.2500 . As today Ghanian Cedis depreciate as dollar gain value on the market. Forex trading for Banks also increase, now you can buying dollar for forex bureau exchange which they will be an increase in dollar within these days and sell for profit at bank rates. This exchange rates has done by wisely transfer.

GHANA Cedis depreciation

The depreciation of the Ghanaian cedi is a complex issue that is influenced by a variety of economic factors. One major factor that has contributed to the depreciation of the cedi in the past is the country's trade deficit, which occurs when the value of imports exceeds the value of exports.

Other factors that can contribute to currency depreciation include inflation, high levels of government debt, political instability, and changes in global market conditions. Additionally, fluctuations in global commodity prices, particularly those of Ghana's major exports such as cocoa and gold, can also affect the value of the cedi.

To address currency depreciation, the government of Ghana has implemented various measures such as the introduction of foreign exchange controls, increasing exports, and attracting foreign direct investment. The Bank of Ghana has also implemented monetary policies aimed at stabilizing the value of the cedi.

Overall, the issue of currency depreciation is a complex and multifaceted one that requires a coordinated effort from various sectors of the economy to address.