The Ghana Cedi (Gh¢) is one of the currencies in the world that is unable to be stable against other countries' currencies. The country has been suffering from a particular problem because it is making inflation to be on its highest level.
The Ghana cedi lost grounds against the three major trading currencies on the international currency market.
In this regard, the US dollar recorded 0.18 percent appreciation against the Ghanaian currency as it is selling at GH¢5.74 on the interbank currency market.
Also, the British pound gained a boost after the current assessment. The British pound appreciates against the cedi at a selling price of GH¢8.15 that is 0.25 percent on the interbank currency market.
The Euro has also appreciated massively on the international. The euro saw appreciates against the cedi at a selling price of GH¢7.00 at the rate of 0.12 percent.
It clear that for any business which must be transacted using either the US Dollar, the British pound, or the Euro the transactor must be ready to pay more. Check out the exchange rates below:
GHS 5.79 = $1
GHS 8.24 = £1
GHS 7.12 = €1
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