File photo of Cedi note
Ghana's local currency, the cedi, has experienced marginal gains against major trading currencies, especially the dollar, at some forex bureaus.
On average, the cedi is selling at GH¢15.12 to $1 compared to GH¢16.16 last month.
The Euro is selling at an average of GH¢18.99, while the pound is averaging GH¢15.78.
In its daily update, the Central Bank noted that as of December 24, 2024, the cedi is trading at a buying price of GH¢14.64 and selling at GH¢14.65.
The British Pound is being bought at GH¢18.35 and sold at GH¢18.37.
The Euro trades at a buying price of GH¢15.21 and a selling price of GH¢15.23.
Checks by GhanaWeb Business on December 26, 2024, at 8:30 AM show that the cedi is trading at GH¢15.85 to the dollar, while the pound is trading at GH¢19.70 at some major forex bureaus across the country.
Additionally, the Euro is trading at GH¢16.70 on the retail market.
Despite the current gains, the decline of the cedi against major trading currencies will further worsen the woes of the Ghanaian economy.
The Bank of Ghana, in its efforts to curb the depreciation of the cedi, sold some dollars worth over 200 million.
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