● Ghana cedi now the worst performing currency among top 15 African currencies
Ghana Cedi sinks to major currencies across the world, especially to the world’s strongest currency, the United States dollar.
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Just last two weeks ago, the Cedi was trading 6.3 to a dollar. Today, it has depreciated further, making it one of the worst currencies in Africa. It is now 6.77 Ghana cedis to a dollar.
Finance expects predict it may further depreciate before the year ends. It has been classified as the worst among African currencies with the “Worst spot Returns” by Bloomberg. Bloomberg pegs the depreciation of the Cedi to the dollar at 8.86% between the period of 1 January 2022 to February 25, 2022.
A report conducted by JoyNews also confirms how bad the Cedi is performing in Africa and across the world. It is now the worst performing currency among 15 top African currencies, now overtakes Zambian Kwacha to be the worst performing currency on the continent.