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Ghana cedi, world second worst performing currency

The Ghana cedi has depreciated by 35 percent against the US dollar this year, making it the second worst-performing currency in the world after Sri Lanka’s Rupee.

Since the start of the year, like the naira, the Ghana cedi has suffered persistent depreciation against major trading currencies, especially the US dollar.

According to a currency performance ranking by Bloomberg, the cedi dropped 1.1 percent, extending it’s fall this week to 5.2 percent-the worst decline since 2019.

Source: The Cable