In the meantime, the cedi appreciated in opposition to the US greenback within the first half of the 12 months.
The Ghana cedi was displaced from its eighth place by the Namibian greenback, following an improved efficiency in opposition to the American forex in September 2021.
The report confirmed that the Zambian Kwacha is the quantity forex on the continent. It appreciated 28% to the US greenback.
It’s adopted by the Ugandan shilling and the Egyptian Pound. Each appreciated by 3.1% and 0.14% in worth respectively to the American forex.
In the meantime, the cedi is predicted to realize some worth to the US greenback following the approaching in of the primary tranche ($750m) of the $1.5 billion Cocoa Syndication Mortgage.
The Cocoa Syndication Mortgage is predicted to hit the account of the Financial institution of Ghana subsequent week. This can assist scale back the latest strain on the native forex.
Rankings of the highest 15 African currencies under;