[ad_1] Joe Jackson, the acting CEO of Dalex Finance, has disputed the cedi depreciation figures presented by Minister of Finance Dr. Mohammed Amin Adam. At his monthly briefing on the economy, the minister said the exchange rate has been largely stabilised with the depreciation of the cedi against the US Dollar halving from 54.2% at…
[ad_1] Zimbabwe on Friday launched a new currency to replace its previous one that in recent months has been battered by depreciation, and in some instances rejection by the population. Authorities hope the new measure will halt a currency crisis underlining the country’s yearslong economic troubles. Reserve Bank of Zimbabwe Gov. John Mushayavanhu said the…
[ad_1] The Ghana cedi would remain relatively stable this week, following the recent approval of the $800 million cocoa syndication loan by Parliament, and the $102.6 million African Development Bank budget support programme for Ghana. While market activity appears dull, analysts expect some stability in the near term. They anticipate a slight improvement in foreign…
[ad_1] The Ghana cedi could record a single-digit depreciation against the US dollar in 2024, The Economist Intelligence Unit has disclosed in its 2024 Africa Outlook Report. According to the UK-based firm, the cedi will benefit from the International Monetray Fund Programme. It stated that only five African countries (Egypt, Sudan, Ethiopia, Angola, and Zimbabwe)…
[ad_1] The Ghana cedi has remained relatively stable to the US dollar since depreciating by about 20.6% on the interbank forex market in January 2023. According to data from the Bank of Ghana, the local currency has lost about 22.5% to the American greenback as of September 2023. This is compared with 37.5% during the…
[ad_1] The Economist Intelligence Unit has revised its projected depreciation of the cedi to dollar in 2023 to about 23.0%, from the earlier 30.0%. According to its 2023 Updated African Outlook Report, this will place the local currency as the third weakest in Africa this year. That was a business desk report According to the…
