Ghana’s currency continues to face challenges, with the cedi persistently losing value against key foreign currencies like the US dollar.

After experiencing some stability in July, coupled with easing inflationary pressures, the cedi has resumed its downward trend.

As of October 14, 2024, at 10:00 AM, checks by GhanaWeb Business indicate that the cedi is trading at GH¢16.50 to the dollar, while the pound is priced at GH¢21.38 in various forex bureaus across the country.

The Euro, meanwhile, is trading at GH¢17.93 on the retail market.

Recent reports by Bloomberg reveal that the cedi has weakened by 0.1% to trade at GH¢15.67 per dollar, a development expected to exacerbate the economic struggles faced by Ghanaians, particularly in light of businesses’ pricing practices.

Over the past month, the cedi has depreciated by nearly 1% against the dollar and has lost nearly 24% of its value in 2024 alone, according to Bloomberg.

Additionally, Ghana’s dollar bonds set to mature in 2032 rose slightly by 0.2 cent to 52.36 cents on the dollar in London trading on September 11, 2024.