{"id":262,"date":"2022-10-17T11:13:01","date_gmt":"2022-10-17T11:13:01","guid":{"rendered":"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/"},"modified":"2022-10-17T11:13:01","modified_gmt":"2022-10-17T11:13:01","slug":"report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar","status":"publish","type":"post","link":"https:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/","title":{"rendered":"Report: Ghanaian Currency Slips to Another Low Versus the US Dollar"},"content":{"rendered":"<p><strong>After it slipped to a rate of about 12:1, the Ghanaian cedi became the latest African currency to touch a new low versus the U.S. dollar, albeit on the unofficial foreign exchange market. Having started 2022 trading around 6.25 per dollar, the<\/strong><strong> cedi has now lost over 90% against the appreciating greenback.<\/strong><\/p>\n<h2>Protest Against the Cedi\u2019s Depreciation<\/h2>\n<p>The Ghanaian cedi recently became the latest African currency to fall to a new low versus the U.S. dollar in 2022, after its unofficial exchange rate against the greenback reportedly slipped to C12.10:$1. Following this latest depreciation, the cedi, which began the year trading at around 6.25 per dollar, has now lost over 90% of its value in just over ten months.<\/p>\n<p>According to one local <a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/NewsArchive\/US-1-hits-GH-12-10-as-Cedi-depreciation-continues-unabated-1643129\">report<\/a>, the cedi\u2019s depreciation has resulted in the impairment of some traders\u2019 capital. As per the report, some traders in the country\u2019s Ashanti region have protested against the cedi\u2019s depreciation and Ghana\u2019s rising cost of living by closing their shops.<\/p>\n<p>Besides the Ghanaian cedi, other African currencies that have lost ground versus the U.S. dollar include Nigeria\u2019s naira, the <a href=\"https:\/\/news.bitcoin.com\/report-gap-between-ethiopian-currencys-official-and-parallel-market-exchange-rate-grows-to-new-record\/\">Ethiopian birr<\/a>, and the South African rand. As has been reported by Bitcoin.com News, the U.S. Federal Reserve\u2019s aggressive monetary tightening policy, which has seen it repeatedly hike interest rates, is causing the U.S. dollar to appreciate versus many currencies. A strengthening dollar has, in turn, fueled inflation in many countries, including Ghana.<\/p>\n\n<h2>Ghana Inflation Surges Again<\/h2>\n<p>Meanwhile, according to a recent <a href=\"https:\/\/view.officeapps.live.com\/op\/view.aspx?src=https%3A%2F%2Fstatsghana.gov.gh%2Fgssmain%2FfileUpload%2FPrice%2520Indices%2F1.CPI%2520September_2022_rev.pptx&amp;wdOrigin=BROWSELINK\">announcement<\/a> by the Ghana Statistical Service (GSS), the cocoa-producing country\u2019s year-on-year inflation rate for September stood at 37.2%. This figure is 3.3 percentage points higher than the rate for August. However, according to the statistical agency\u2019s latest data, prices only went up by 2% between August and September.<\/p>\n<p>Also, in another development, the GSS announced it has changed the way it calculates the inflation rate. Samuel Kobina Annim, a government statistician, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-12\/ghana-annual-inflation-at-37-2-as-data-compilation-is-changed\">reportedly<\/a> said the base year had been changed from 2018 to 2021. In addition, the weights of the regions were adjusted.<\/p>\n<p><em>Register your email here to get a weekly update on African news sent to your inbox:<\/em>\n<\/p>\n<p><strong><em>What are your thoughts on this story? Let us know what you think in the comments section below. <\/em><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>After it slipped to a rate of about 12:1, the Ghanaian cedi became the latest African currency to touch a new low versus the U.S. dollar, albeit on the unofficial foreign exchange market. Having started 2022 trading around 6.25 per dollar, the cedi has now lost over 90% against the appreciating greenback. Protest Against the [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Report: Ghanaian Currency Slips to Another Low Versus the US Dollar - Latest Cryptocurrency &amp; blockchain News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Report: Ghanaian Currency Slips to Another Low Versus the US Dollar - Latest Cryptocurrency &amp; blockchain News\" \/>\n<meta property=\"og:description\" content=\"After it slipped to a rate of about 12:1, the Ghanaian cedi became the latest African currency to touch a new low versus the U.S. dollar, albeit on the unofficial foreign exchange market. Having started 2022 trading around 6.25 per dollar, the cedi has now lost over 90% against the appreciating greenback. Protest Against the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/\" \/>\n<meta property=\"og:site_name\" content=\"Latest Cryptocurrency &amp; blockchain News\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-17T11:13:01+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2\ubd84\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"http:\/\/live-script.xyz\/#organization\",\"name\":\"Latest Cryptocurrency &amp; blockchain News\",\"url\":\"http:\/\/live-script.xyz\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ko-KR\",\"@id\":\"http:\/\/live-script.xyz\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/live-script.xyz\/wp-content\/uploads\/2022\/07\/cropped-cropped-pngwing.com_.png\",\"contentUrl\":\"https:\/\/live-script.xyz\/wp-content\/uploads\/2022\/07\/cropped-cropped-pngwing.com_.png\",\"width\":2000,\"height\":800,\"caption\":\"Latest Cryptocurrency &amp; blockchain News\"},\"image\":{\"@id\":\"http:\/\/live-script.xyz\/#\/schema\/logo\/image\/\"}},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/live-script.xyz\/#website\",\"url\":\"http:\/\/live-script.xyz\/\",\"name\":\"Latest Cryptocurrency &amp; blockchain News\",\"description\":\"\",\"publisher\":{\"@id\":\"http:\/\/live-script.xyz\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\/\/live-script.xyz\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"ko-KR\"},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/\",\"url\":\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/\",\"name\":\"Report: Ghanaian Currency Slips to Another Low Versus the US Dollar - Latest Cryptocurrency &amp; blockchain News\",\"isPartOf\":{\"@id\":\"http:\/\/live-script.xyz\/#website\"},\"datePublished\":\"2022-10-17T11:13:01+00:00\",\"dateModified\":\"2022-10-17T11:13:01+00:00\",\"breadcrumb\":{\"@id\":\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/#breadcrumb\"},\"inLanguage\":\"ko-KR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\/\/live-script.xyz\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Report: Ghanaian Currency Slips to Another Low Versus the US Dollar\"}]},{\"@type\":\"Article\",\"@id\":\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Report: Ghanaian Currency Slips to Another Low Versus the US Dollar\",\"datePublished\":\"2022-10-17T11:13:01+00:00\",\"dateModified\":\"2022-10-17T11:13:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/\"},\"wordCount\":384,\"commentCount\":0,\"publisher\":{\"@id\":\"http:\/\/live-script.xyz\/#organization\"},\"articleSection\":[\"crypto-news\"],\"inLanguage\":\"ko-KR\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/#respond\"]}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Report: Ghanaian Currency Slips to Another Low Versus the US Dollar - Latest Cryptocurrency &amp; blockchain News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/live-script.xyz\/report-ghanaian-currency-slips-to-another-low-versus-the-us-dollar\/","og_locale":"ko_KR","og_type":"article","og_title":"Report: Ghanaian Currency Slips to Another Low Versus the US Dollar - Latest Cryptocurrency &amp; blockchain News","og_description":"After it slipped to a rate of about 12:1, the Ghanaian cedi became the latest African currency to touch a new low versus the U.S. dollar, albeit on the unofficial foreign exchange market. Having started 2022 trading around 6.25 per dollar, the cedi has now lost over 90% against the appreciating greenback. 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