Ghana's currency, the cedi, continues to lose value relative to major foreign currencies, especially the US dollar.

Reports received has it that the cedi is trading at GH¢15.67 per US dollar at some foreign exchange bureaus.

This depreciation of the cedi is also observable with other major currencies, such as the British Pound and Euro.

For example, the cedi is priced at GH¢20.34 per British Pound and GH¢17.10 per Euro at leading forex bureaus nationwide.

Bloomberg has recently ranked the Ghana cedi as the fourth-worst performing currency out of 150 global currencies.

This assessment follows similar declines experienced by the Egyptian Pound, Nigerian Naira, and Lebanese Pound.

Since the start of the year, the cedi has dropped in value by 21% against the US Dollar.

The cedi's poor performance is largely attributed to the increased demand for US dollars for purchasing petroleum products, pharmaceuticals, and other imports.