1 dollar is no more 5.70 cedis. See the current exchange rate
The Foreign Exchange rate (ForEx rate) is one of the most important means through which a country’s relative level of economic health is determined. It may change daily with the changing market forces of supply and demand of currencies from one country to another. The exchange rate is defined as "the rate at which one country's currency may be converted into another. They are different things that affect the foreign exchange rate. Some of them are; 1.Inflation Rates. Changes in market inflation cause changes
Bank of Ghana will not fund rice and poultry importation again
The Bank of Ghana (BoG) has quit giving Foreign Exchange (FX) to banks and other monetary organizations to fund the importation of rice, poultry, vegetables and earthenware production, among others. The national bank pulled out the help this month as a component of endeavors to boost the nation's economy while empowering domestic production and the utilization of local substitutes.
Foreign Exchange Market Is Different From The Stock Market
The unfamiliar trade market is otherwise called the FX market, and the forex market. Exchanging what happens between two regions with various monetary standards is the reason for the fx market and the foundation of exchanging this market. The forex market is more than thirty years of age, set up in the mid-1970s.