Ghanaian socialite Abu Trica faces US extradition after an FBI-backed arrest over $8m fraud. Oliver Barker-Vormawor shared new court date details.
The Ghana Cedi has further depreciated to sell at GH¢12.10 against the US dollar on the forex market, despite forecasts of an average of GH¢11.60.
The cedi is still the worst-performing currency in the world after it lost more than 55% of its value. The naira is now the third worst after losing 37% value.
The cedi fall quiet heavily on Thursday, depreciating twice within 24 hours. It slumped significantly against the dollar and now selling at about GH¢13.75 to $1
As the cedi's fall continues, finance minister Ken Ofori-Atta has asked business men and the public not to panic as the cedi’s depreciation worsened on Oct 20.
The depreciation of the local currency, the cedi, has gotten worse as forex bureaus have began selling $1 for almost GH¢13 as at Thursday, October 19, 2022.
The cedi depreciated further on Monday, October 17 to become world’s worst performing currency after losing over 45% of its value to the US dollar this year.
Lemonade Finance, a cross-border payment solution that enables Africans to send money back home, has announced Delay, John Dumelo and Dr Likee as ambassadors.
Forex bureaux in Accra and other regional capitals are selling $1 for GH¢10.98, prompting fears that very soon it will cross the GH¢11 mark and even beyond.
The Bank of Ghana is warning all the defaulters of mobile money loan like Quickloan to pay up before their credit information gets into a national database.
The cedi’s fall seems to be getting worse at both forex and interbank. New rates show further depreciation against the dollar and other major trading currencies
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