Ghana cedi depreciates against major trading currencies in weekly pricing window

The Ghana cedi depreciated against the major trading currencies during the weekly pricing window from October 5 to October 12. The Bank of Ghana Daily Exchange Rate said the previous trading week began with the cedi trading at GH¢11.71 to the US dollar, while the British pound sterling traded at GH¢15.40 and the euro at GH¢13.10. However, the new trading week opened on the back of depreciation, with the cedi currently trading at GH¢11.79 to the US dollar, GH¢15.60 to the pound sterling, and GH¢13.20 to the euro. The previous trading week was characterised by a mix of appreciation and depreciation. On Tuesday, the cedi traded at GH¢11.77 to the US dollar, GH¢15.55 to the pound sterling, and GH¢13.19 to the euro. On Wednesday, the local currency recorded further losses, trading at GH¢11.80 to the US dollar, GH¢15.67 to the pound sterling, and GH¢13.29 to the euro. The downward trend continued on Thursday, with the cedi trading at GH¢11.83 to the US dollar, GH¢15.60 to the pound sterling, and GH¢13.20 to the euro. The cedi, however, regained some ground at the close of the trading week, appreciating to GH¢11.78 to the US dollar, GH¢15.56 to the pound sterling, and GH¢13.12 to the euro. Despite the late recovery, the cedi opened the new trading week weaker against all three major trading currencies, reflecting a marginal depreciation compared to the previous week’s opening rates. Source: GNA The post Ghana cedi depreciates against major trading currencies in weekly pricing window appeared first on Ghana Business News.

Ghana cedi depreciates against major trading currencies in weekly pricing window

Tags

Share this report

Related Intelligence

GIZ -Tender Invitation: Delivering expert services for advancing Marine Spatial Planning and Marine Conservation in Angola

Eight arrested over railway theft

Joyce Bawah Mogtari urges women leaders to build strong support networks

Bawumia engages GUTA over import duties, VAT and rising business costs

About Us

Company

Image Post