Per the Bank of Ghana rate on Friday, May 8 the cedi was buying at 11.2692 to a dollar and selling at 11.2804.
The Pound was buying at 15.3373 and selling at 15.3538.
For the Euros, it buys at 13.2596 and sells at 13.2715.
On Thursday, the cedi bought at 11.2369 and sold at 11.2481.
Earlier, Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, said that it was normal for the cedi to witness marginal depreciation.
When asked about the recent depreciation of the cedi during the 128th Monetary Policy Committee (MPC) press conference in Accra on Wednesday, January 28, Dr Asiama said, “Don’t get worried if you see the cedi moving a little bit; it is normal. Speculative behaviour can move the cedi.
“It is more of a short-term kind of factor, but it will fall in line. We have announced a number of reforms.”
