The Ghanaian cedi has started the new year on a losing streak.
Reports suggest the Ghana cedi to a dollar is 1 dollar to GH¢15.80.
On Thursday, January 2, 2025, the Ghana cedi was trading at the forex bureaus, GH¢15.25 buying rates while selling at GH¢15.80.
Over the past years, the Ghanaian cedi has been constantly depreciating against the US dollar, with Ghanaian businessmen and traders constantly lamenting the high depreciation of the cedi to the US dollar and major currencies around the world.
Meanwhile, Dr. Adddison the governor of the Bank of Ghana in an interview with JOY Business asserted the local currency could have ended the year well if not for the uncertainty of the December polls which impacted confidence.
He further revealed that the Domestic Gold Purchase Programme has recently helped the Cedi recover.
“The Domestic Gold Purchase Programme has been one of the major factors that have contributed to cedis’ recent recovery, and we expect that going forward that will be maintained to support the cedi’s performance”, the Governor added.
