Cedi appreciates against all major currencies

Accra, Nov. 30, GNA - The cedi on Monday appreciated against all the major trading currencies, the Dollar, Pound, Euro and the CFA, the Gold Coast Securities Market Update report copied to the Ghana News Agency said on Monday.

It said the cedi fetched 1.6 pesewas against the Pound representing a gain of 0.67 per cent mainly because the UK currency on the international market dipped following a report that the UK consumer confidence had weakened in the month of October.

The US dollar lost 0.03 pesewas to the cedi while the Euro went down by 0.42 per cent.

The GCS update, however, said the story of the Dollar remained unchanged continuing its loss in value globally but the Euro maintained its volatility on the inter-bank market.

The cedis year-to-date deprecation against the Pound was quoted as 33.96 per cent while that of the Dollar stood at 18.42 per cent. Finally, the cedi inched up considerably against by CFA and it presently pegged at a year-year-date loss of 21.97 percent.

The local currency is trading between GH¢ 1.43 and GH¢ 1.45 to the Dollar. It was buying at GH¢ 2.37 and selling for GH¢ 2.41 to the Pound and was going for GH¢ 2.15 and GH¢ 2.19 against the Euro. One Ghana Cedi was quoted between 300 and 305 CFA.