The Ghana cedi is one of the poorest performing currencies in Africa. Among 15 top-performing currencies in Africa, the Ghana cedi rated second worst.
According to Joy Business, the cedi is presently selling at GH6.60 per dollar.
Upside risks to the economy include excessive debt and interest payments, low income, and growing expenditures.
The research said the Zambian kwacha, which was one of Africa’s best-performing currencies in 2021, is now the worst.
It has lost 11.29 percent against the dollar. The Ghana Cedi was previously ranked 14th among African currencies by Bloomberg in 2021.
The local currency was listed as having the weakest spot returns.
According to Bloomberg, the cedi lost 4.98 percent of its value versus the dollar in 2021, however other research shows a little smaller fall.
The cedi performed well in West Africa. The top-performing African currencies are shown below.
Source: TheBBCghana.Com
