Information gathered by Tapnewsgh indicates the Ghanaian Cedi has dropped past 10 to a dollar for the very first time as investors patiently wait for a financial deal with the International Monetary Fund (IMF).
The recent update shows the Cedi has dropped more than 38% in the year 2022 making it the worst performing currency among 150 economies globally.
In relation to the massive downswing in the cedi’s performance on the global front, investors have dumped the Ghanaian currency and bonds of the country, as concerns regarding the global retardation in commodity demand for products like cocoa have risen.
The Bank of Ghana earlier this month increased its interest benchmark by a huge margin of 22% to ensure the a slowdown in the declination.
