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Check Rates: Foreign Currencies Skyrocket In Value Compared To Cedi Today

Analysis of Pan African foreign exchange: <a class=Ghanaian Cedi, Africa&#39;s star"/>

The foreign exchange rate is an important parameter in the business arena. Exchange rates are expressed as a comparison of currencies of two different countries. This rate helps us to compare the prices of goods and services and assets stated in different currencies. The Ghanaian Cedi as compared to other foreign currencies has been weak in recent times.

Here&#39;s the Cedi&#39;s performance against major foreign currencies as at  January 31

The Ghanaian cedi continues to see depreciation as its value dropped today compared to the several foreign currencies. Let us take a look at how the Ghanaian Cedi stands as compared to other foreign currencies such as the British Pound, American Dollar, and the Euro. Currently, the foreign exchange rate for the Ghanaian Cedi and the dollar is $ 1 = GH¢ 6.90 which represents about a 10% increase from its previous rate. The other rates are shown below:

Dollar to Cedi

Euro to Cedi

Pound to Cedi

Would the dollar be able to break the 8-cedi mark before the end of the year? Does this tell us something about the nation's economy? Let us know your thoughts in the comments section below. Hit the FOLLOW button to receive newly published articles. LIKE and SHARE the articles

Content created and supplied by: VersatileJ (via Opera News )

American Dollar Cedi Euro Ghanaian Ghanaian Cedi

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