Ghana's currency, the cedi, has shown improvement against major foreign currencies, particularly the dollar, as the year draws to a close.By the end of November, the cedi was trading at GH¢16.40 at some forex bureaus, a notable recovery from the GH¢17.00 rate in previous months.The Bank of Ghana attributes this gain to the positive growth in the country’s external sector.

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According to the latest update from the Central Bank, as of December 2, 2024, the cedi is being bought at GH¢15.26 and sold at GH¢15.27.The British Pound is being purchased at GH¢19.38 and sold at GH¢19.40, while the Euro is trading at GH¢16.16 to buy and GH¢16.13 to sell.A check by GhanaWeb Business at 10:00 AM on December 2, 2024, reveals that the cedi is being exchanged at GH¢16.

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40 to the dollar, while the pound is being sold for GH¢20.80 at several major forex bureaus.Meanwhile, the Euro is available for GH¢17.65 on the retail market.While the cedi’s recent gains are encouraging, the currency’s overall decline against major currencies continues to challenge the Ghanaian economy.To combat the cedi’s depreciation, the Bank of Ghana has sold over $200 million in foreign currency.<img

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