Ghana's local currency continues to face ongoing depreciation against major currencies, including the US dollar.

The cedi has been under pressure throughout the year but showed signs of relative stability in July, even as inflationary pressures began to decline.

However, as of October 30, 2024, at 10:00 AM, the media reports that the cedi is trading at GH¢17.00 to the dollar, while the pound is valued at GH¢21.66 in several major forex bureaus nationwide.

Furthermore, the Euro is being exchanged at GH¢18.07 on the retail market.

In a recent report, Bloomberg indicated that the cedi has weakened by 0.1%, trading at GH¢15.67 per dollar. This situation poses further challenges for the Ghanaian economy, particularly concerning business pricing strategies.

Bloomberg noted that the cedi has depreciated nearly 1% against the dollar over the past month, following a nearly 24% decline in value this year.

Additionally, the portal reported that Ghana’s dollar bonds maturing in 2032 increased by 0.2 cents, reaching 52.36 cents on the dollar as of 11:38 a.m. on September 11, 2024, in London.