Cedi Depreciation: Ghana’s Currency Cheapest in Africa – UK Economist

Ghana’s currency, the Cedi has suffered a record fall against the U.S dollar, other major foreign currencies and has called on many world economists to react to it. The latest to react is the UK’s economist, Charlie Robertson.

The cedi has depreciated by 8.6 percent this year which represents the highest among over 140 currencies tracked by financial experts.

The cedi which has depreciated by 8.6 percent this year according to research says, it is the highest among over 140 currencies tracked by financial experts in the world.

According to the renowned economist, the Ghana cedi in the last few has become the cheapest in Africa based on the real effective rate model in the world.

He shared this on his Twitter account on Tuesday, 12th March, 2019.

He captioned it with a statistic: “#Ghana’s currency in the last few minutes has just become the cheapest in Africa – (at GHS5.745/$) – based on our real effective exchange rate model. Despite a current account covered by FDI and double-digit interest rates #cedi”

#Ghana‘s currency in the last few minutes has just become the cheapest in Africa – (at GHS5.745/$) – based on our real effective exchange rate model. Despite a current account covered by FDI and double-digit interest rates #cedi

Credit:Ghana | GhanaNewsPage.com
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Ellis Ferdinand is a Journalist, Blogger and Founder of Ellis Multimedia, a parent company of EducationGhana.org, an Online Education News Blog, PoliticsGhana.com and GhanaNaija.net. Ellis Ferdinand is a Graduate of Accra College of Education and the University of Cape Coast, where he obtained a Diploma In Basic Education and a Bachelor of Education in Accounting. He is currently Reading his Master of Philosophy in Curriculum and Pedagogic Studies at the University of Education, Winneba in Ghana. Ellis Ferdinand won Blogger of the Year at the 2018 National Students’ Awards and was also adjudged 14th Best Ghanain Blogger in 2018 among the Top 50 Ghanaian Bloggers of 2018. He introduced the Concept of Education Blogging in Ghana in 2014 with his famous blog EducationGhana.net. now EducationGhana.org His Blog won Best Media Promoting Education in 2017, 2018 and 2019 respectively, an Award organized by Neogenics Education Consult. In 2019, He adjudged the Most Promising West African Blogger of the Year in Nigeria. He won Writer of the Year at the 2021 EDUCOM AWARDS

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