Cedi Exchange Rates: GH₵15.98 to $1 as of August 23
Thursday, 22 August 2024, 16:59
Cedi Exchange Rates Decline
As of August 23, the Ghanaian cedi is trading at GH₵15.98 to $1 at major forex bureaus in Accra. This decline in the cedi's value poses potential challenges for economic stability in the country.
Comparison with Other Currencies
This depreciation is not isolated, as similar trends are observed with other major trading currencies. For instance:
- GH₵20.95 to £1 (British Pound)
- GH₵17.50 to €1 (Euro)
Implications for the Economy
This drop in value not only affects purchasing power but also raises questions about monetary policy effectiveness and inflationary pressures in Ghana.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.