Thousands of customers of Equity Savings and Loans Limited have been left stranded after widespread reports that their deposits have become inaccessible.
Thousands of customers of Equity Savings and Loans Limited have been left stranded after widespread reports that their deposits have become inaccessible.
Traders say they fear the depreciation of the cedi over the past 3 weeks will continue until the end of January. They blame the cedi fall on dollar repatriation
Data shows it's still looking very grim for the Ghana cedi as the local currency maintains its downward spiral against the US dollar on Monday, January 16, 2023
The cedi has been falling steadily against the dollar over the last couple of weeks, prompting public concerns that the local currency's woes have resumed.
The cedi has depreciated marginally on the interbank market in January, 3, 2023, dropping by 20 pesewas against the U.S dollar according to available figures.
The Ghana cedi seems to be depreciating again against the US dollar on Wednesday, December 21, 2022, triggering concerns from market watchers and general public
UK has introduced new banknotes featuring the image of King Charles III. The only change to designs of £5, £10, £20 and £50 notes is the portrait of the king.
Wise has temporarily suspended transfers the Ghana cedi following currency’s rapid appreciation against the dollar and other major foreign currencies this week.
The cedi has appreciated in value again after selling for GH¢8 to $1 on the interbank market according to the Bank of Ghana and GH¢10.50 on the forex market.
Bright Simons, Prof Bokpin and Mr Darkwa believe the rapid rise of the Ghana cedi against the dollar is artificial and have warned against early celebration.
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