The Ghana cedi has been ranked among currencies with the ‘worst spot returns’ by Bloomberg.

It is 14th on the list of 20 African currencies tracked by Bloomberg. 

According to Bloomberg’s data, the cedi’s year-to-date depreciation is 4.05%.

On the other hand, the Zambian kwacha topped the list of countries with the ‘best spot returns’.

See the list below:

Currencies with “Best Spot Returns”

Currencies          Year-to-Date performance (%)

Zambian kwacha              19.14

Mozambique new metical            16.48

Angolan kwanza               9.34

Guinean franc    5.73

Ugandan shilling               2.52

Tanzanian shilling             0.70

Egyptian pound 0.04

Currencies with “Worst Spot Returns”

Currencies          Year-to-Date performance (%)

Nigerian naira    -3.99

Ghana cedi          –4.05

Malawian kwacha            -5.50

Mauritian rupee               -7.09

Botswana pula   -8.44

Sierra Leone       -8.55

South African rand           -9.77

Ethiopian birr     -19.28