The Ghana Cedi continues to struggle as the three major trading currencies gain dominance in the exchange rates. Today, per an update from Cedi Rates, the cedi is selling at 1 USD ➔ ₵ 14.42, 1 GBP ➔ ₵ 17.03, and 1 EUR ➔ ₵ 14.96.
The Ghana cedi continues to lose value, while the Interbank Exchange rates from the Bank of Ghana also fall below the rates determined by the forces of demand and supply.
The current rates from Cedi Rates suggest the local currency is still falling.
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The cedi is likely to sell as 1 USD ➔ ₵ 15.00 or more by December. Should the government’s bail-out from the IMF be attained before the festive seasons, it is expected that the cedi will gain some stability.
READ: Bank of Ghana Exchange Rates for Today: Are these rates realistic?
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