Cedi Depreciates 18.8% four months after introduction of new FX rules
4th June was exactly four months since the Bank of Ghana introduced the new foreign exchange rules to help stabilize the cedi against major foreign currencies.
Citi Business news desk analysis shows that the cedi has depreciated by about 25.6 percent to major trading currencies from the beginning of the year and about 18.8 percent after the introduction of the new foreign exchange rules on February 4, 2014.
Prior to the introduction of the new rules, the cedi had depreciated by about 8.1 percent to the US dollar, about 6.8 percent to the British Pound and 6.4 percent to the Euro.
This Citi Business Desk’s infograph provides illustrative analysis of the performance of the Ghana Cedi in the last four months.
By: Anim Kwaku Boadu/citifmonline.com/Ghana