The Ghana Cedi has been named the best African currency for the first quarter of 2021.

Ghana cedi was ranked among 15 important African currencies including the Egyptian pound, Nigerian naira and South African rand. It ended the quarter with a year-to-date appreciation of 0.6% against the dollar. This year’s first quarter performance of the Ghana cedi against the US dollar is similar to its 2020 performance.

The local currency ended the first quarter of 2020 with an appreciation of almost 1.7% against US dollar. It made it the second most resilient currency in our basket of 15 African currencies, only behind the Egypt pound. “Immense thanks to the Bank of Ghana’s intervention measures, particularly on the FX forward market”.

Performance

Ghana cedi 0.55%

Egyptian pound 0.18%

Nigerian naira 0.00%

Tanzania shilling 0.00%

Kenya shilling -0.31%

Kobby Koomson
Author: Kobby Koomson

Scoop-Gh

Leave a Reply

Your email address will not be published.

error: Content is protected !!