Bloomberg Ranks Ghana Cedi 4th Worst-performing Currency Among 150 Currencies Globally

Source: Ghanaija

The Ghana Cedi has been ranked the fourth worst-performing currency among 150 top currencies globally.

The ranking was done by Bloomberg. Data from Bloomberg shows that the Ghana Cedi depreciated by 0.2% to 14.9335 per dollar by the close of trading in Accra on Monday, June 10, 2024.

Bloomberg says since the beginning of 2024, the Ghanaian Cedi has declined in value by 20% against the US dollar.

According to Bloomberg, the depreciation of the Cedi is due to increased demand for the US dollar to buy petroleum products, pharmaceuticals, and other goods that Ghana imports regularly.