The average interbank rates used by the commercial banks for transactions at the close of business Wednesday, October 26, 2022 pegged the dollar at ₵13.01 with the with the British Pound and Euros selling at ₵15.10 and ₵13.09 respectively.
This appears to be a significant appreciation of the Ghana Cedi to the major foreign currencies for the first time in several weeks following the continuous depreciation of the Cedi in sometimes in hourly basis recently.
The Cedi was trading to the dollar at ₵16.00 on the black market just two days ago.
However, many believe the ‘magic’ is a nine-day wonder since the cause of the appreciation is more artificial than natural.
Source: Onuaonline.com|Ghana
