The Ghana cedi for the third-day running strengthened in value against the US dollar and the other major foreign currencies.
It is now going for ¢12.80 on the average to the American ‘greenback’, according to checks by Joy Business at some foreign bureaus.
The local currency is also selling at ¢12.85 to the euro and ¢15.00 to the British pound respectively.
It appears the continuous weakening of the dollar against major foreign currencies and clarity on Ghana’s debt restructuring programme is helping the cedi to improve in value against the US dollar.
Therefore, the rate of depreciation of the cedi has narrowed to about 48%.
Last week, the local currency gained 3.12% against the dollar, 0.88% to the pound and 3.79% versus the euro on the retail market.
Cedi sold at ¢13 to dollar yesterday
The cedi sold at ¢13.00 on the average at most forex bureaus on December 8, 2022.