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The US dollar gained 0.72% against the Ghanaian cedi on August 25, with the pair at 11.16, adding to a 0.73% weekly gain. The cedi has faced sustained depreciation pressure over the past several years, driven by high public debt, inflation, and reliance on commodity exports. A weaker cedi raises the cost of imports including fuel and food, adding to inflationary pressure for Ghanaian households.
Aug 25, 17:51 UTCAlternativeMarkets.AI Newsroom · Data: Financial Modeling Prep
The US dollar gained 0.73% against the Ghanaian cedi to 11.08 on August 24, extending a weekly rise of 0.91% and continuing a gradual weakening trend for the cedi. Ghana has been managing significant debt restructuring and currency pressures following its 2022 economic crisis. A depreciating cedi raises costs for imported goods and complicates Ghana's efforts to stabilize inflation, which has been among the highest in sub-Saharan Africa.
Aug 24, 17:51 UTCAlternativeMarkets.AI Newsroom · Data: Financial Modeling Prep
The US dollar gained 1.09% against the Ghanaian cedi to 11.10 on August 20, adding to a 0.73% weekly advance. The cedi has been under pressure as Ghana navigates a debt restructuring process and works with the International Monetary Fund on economic stabilization. A weaker cedi raises the cost of imports and increases the burden of foreign-currency debt for the country.
Aug 20, 17:51 UTCAlternativeMarkets.AI Newsroom · Data: Financial Modeling Prep
The US dollar gained 0.92% against the Ghanaian cedi to reach 11.00 on August 17, though the pair was still down 7.23% over the prior week, reflecting a significant recent strengthening of the cedi. The week's decline suggests the cedi had recovered notably before giving back a small portion of those gains. Currency moves of this scale affect the cost of imports and the value of foreign debt for Ghana, which has been undergoing an economic restructuring program.
Aug 17, 17:51 UTCAlternativeMarkets.AI Newsroom · Data: Financial Modeling Prep
The US dollar weakened 3.54% against the Ghanaian cedi to 10.90 on August 13, bringing the week's decline to 3.75%. The move represents a notable strengthening of the cedi over a short period. Ghana's currency has been subject to significant pressure in recent years tied to high inflation and an IMF debt restructuring programme, making any sustained gains closely watched.
Aug 13, 17:51 UTCAlternativeMarkets.AI Newsroom · Data: Financial Modeling Prep
The US dollar weakened 2.16% against the Ghanaian cedi to 11.30 on August 12, extending a 0.77% decline over the week. The move represents a notable strengthening of the cedi in a short period. Ghana's currency has faced significant pressure in recent years due to debt restructuring and high inflation, making any appreciation a closely watched signal of economic stabilization.
Aug 12, 17:51 UTCAlternativeMarkets.AI Newsroom · Data: Financial Modeling Prep
The US dollar fell 1.28% against the Ghanaian cedi to 11.60 on August 11, though the pair is still up 0.43% on the week. The daily move represents a notable gain for the cedi after a prolonged period of weakness against major currencies. Ghana's currency performance is closely tied to the country's export revenues from gold and cocoa.
Aug 11, 17:51 UTCAlternativeMarkets.AI Newsroom · Data: Financial Modeling Prep
The US dollar gained 0.69% against the Ghanaian cedi to 11.68, with the same magnitude of gain recorded over the week. The cedi has been gradually losing ground against the dollar in recent sessions. Ghana has been navigating an IMF-backed economic recovery program, and the cedi's performance reflects ongoing pressures on the country's external balances.