Sunday, 03 July

Cedi now Africa’s worst-performing currency – falls 7.6%

Business
Ghana cedi

 

The Ghana cedi is now the worst-performing currency in Africa.

It has depreciated 7.6 per cent to the dollar since the beginning of 2022.

It is the worst performer among 15 of Africa’s top currencies.

A dollar is currently selling at GHS7.05.

AFRICA’S TOP CURRENCIES 

CURRENCY          YEAR-TO-DATE PERFORMANCE RANKING

Namibian dollar                   4.49%                    1st

South African rand              3.68%                     2nd

Botswana pula                    1.17%                     3rd

Tunisia dinar                       0.75%                     4th

Uganda shilling                    0.46%                    5th

Egypt Pound                        0.02%                    6th

Malawi kwacha                   0.00%                      7th

Tanzania shilling                  -0.02%                    8th

Kenya shilling                      -0.06%                    9th

Nigerian naira                     -0.70%                    10th

Mauritius rupee                    0.75%                    11th

Côte d’Ivoire CFA                -0.90                        12th

Morocco dirham                   -2.56%                    13th

Zambia kwacha                   -5.98%                    14th

Ghana cedi                          -7.60                       15th

Source: Classfmonline.com