Cedi devalues at 40% to the dollar in 2022 – Bloomberg

According to Bloomberg, the Ghana cedi lost 40.05% of its value against the US dollar in the first nine months of 2022, ranking it as the world’s 147th worst performing currency. This is the worst decline in the local currency against the US dollar in over three decades. The cedi’s performance also ranked it last among 30 top-performing currencies on the African continent. In the last three months, the local currency has lost nearly 21% of its value in relation to the world’s m...[Read More]