Forex
Ghana Cedi Surges 6.9% Against Dollar in One Week
The Ghanaian Cedi has recorded significant appreciation against the US dollar in the past week. According to Bank of Ghana data, the interbank buying rate dropped from GH¢11.75 on August 10 to GH¢10.94 on August 17.
This represents a 6.9% increase within seven days, indicating a strengthening trend for the local currency against the dollar.
The cedi's appreciation was not limited to the US dollar, as it also strengthened against other major international currencies such as the pound sterling and euro during the period under review.