This week, there has been some stability for the Ghanaian cedi relative to the dollar. The dollar sold at the Afriswap forex bureau for less than GH14, with a GH13 purchase price.
The exchange rate for the dollar on December 10, 2022, is GH12.60. This has been attributed to the government’s introduction of a scheme for restructuring debt.
The current strengthening of the cedi can also be linked to recent deterioration in the value of the dollar.
While the Euro is being purchased at GH12.80 and selling at GH13.70, the British pound is being purchased at GH15.00 and selling at GH16.30.
Ghana’s debts have grown to unmanageable levels, the government declared, necessitating a restructuring.