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Cedi falls to record low

The cedi has weakened 8.6 percent this year, the most among more than 140 currencies tracked by Bloomberg, after the central bank unexpectedly cut its benchmark rate in January.

The cedi declined as much as 0.5 percent on February 22 to the weakest level since Bloomberg started keeping the records in 1994.

Ghana’s currency slumped to a record against the dollar after a dovish tilt by the nation’s central bank reduced the appeal of fixed-income assets, sapping foreign-investor demand for the country’s bonds.

Feb. 22, 2019

References:

• https://www.bloomberg.com/news/articles/2019-02-22/cedi-weakens-to-record-as-foreign-investors-shun-country-s-bonds
• https://www.myjoyonline.com/business/2019/february-22nd/cedi-falls-to-record-as-foreign-investors-shun-ghana-bonds.php
• https://3news.com/cedi-falls-to-record-as-foreign-investors-shun-ghana-bonds/
• https://starrfm.com.gh/2019/02/cedi-falls-to-record-as-foreign-investors-shun-ghana-bonds/
• https://theworldnews.net/gh-news/cedi-falls-to-record-as-foreign-investors-shun-ghana-bonds